72c, bang on the 200 day moving average. My guess it's portfolio...

72c, bang on the 200 day moving average.

My guess it's portfolio EOFY re-balancing going on. Plenty of tax loss selling and insto's cleaning up the books in the small / mid cap space.

It goes without saying that we need to see a positive + definitive resolution to the outstanding NT issues, otherwise the share price is at real risk of breaching the 200 day MA and heading back to test the $0.60 region.

Iam certainly encouraged by the fact the company is progressing this project along nicely, securing off takes and resolving environmental and access issues, however the longer the NT issue drags on, the greater the perceived risk to the project and it not being resolved in the company's favour.

Hopefully we aren't far away now to a definitive resolution.

With the way the company has been moving forward, my guess is that financing talks / % sale at the project level are well advanced and will be finalised shortly after resolution of NT.