Going by this forecast from BOM I would not bank on much rain. Northern and Western District Forecasts IDS10060 AUSTRALIAN GOVERNMENT - BUREAU OF METEOROLOGY SOUTH AUSTRALIA REGIONAL OFFICE
DISTRICT FORECASTS FOR NORTHERN AND WESTERN SOUTH AUSTRALIA Issued at 4:05 pm on Monday, 23 August 2010 for the period through to Friday.
IDS1006001 NORTHWEST AND NORTHEAST PASTORAL DISTRICTS Monday (until midnight) : Patchy rain north of about Oodnadatta. Isolated showers south of about Woomera to Broken Hill, clearing in the evening. Cool with light to moderate westerly winds in the south, light and variable in the north.
Tuesday : Isolated early morning fog in the south. Patchy rain north of about Oodnadatta. Isolated showers developing south of about Woomera to Broken Hill during the afternoon. Cool with light to moderate northwest to southwest winds, moderate to fresh in the south.
TOWNS AND CITIES for Tuesday: Coober Pedy 9 to 17 Fine. High cloud. Roxby Downs 5 to 18 Fine. Partly cloudy. Woomera 5 to 18 Fine. Partly cloudy. Leigh Creek 6 to 16 Possible morning fog, then fine. Broken Hill 5 to 17 Fine. Partly cloudy.
FOLLOWING THREE DAYS : Wednesday : Patchy rain in the far north, clearing by evening. Isolated showers south of about Tarcoola to Leigh Creek. Cool with moderate to fresh west to southwest winds.
Thursday : Isolated showers south of about Coober Pedy. Fine and mostly sunny further north. Cool with moderate to fresh west to southwest winds.
Friday : Isolated showers in the south. Fine and mostly sunny further north. Cool with light to moderate southwest to south winds.
The 4 day forecast chart does not show much in the way of rainfall in the Cooper over this period. http://www.bom.gov.au/products/IDG00074.shtml It seems most holders of ITC are content to wait on mother nature doing the right thing and evaporating the water which hopefully will be down to levels at which VPE/ITC can commence drilling again come November but hopefully sooner.
ITC Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
