I expect the share price will initially rise but then drift back...

I expect the share price will initially rise but then drift back down below the current level.

There are no funds available for long term iron ore plays needing massive capital. If they could have got it away last year or if they brought in a credible jv partner it would have been a different story.

They have blown their chance unfortunately it was once worth $600m but I think If they dropped the project the share price would rise.

Maybe I'm wrong and they will bring in a credible partner soon after they get approvals.