We have all been observing an extremely dull price stalemate...

We have all been observing an extremely dull price stalemate since the cancellation of the framework agreement with abs,which has obviously tested the resolve of some, with the odd sell order going in at under the now proven support level of 10 cents.
however it has forced me to research this company (proposed steel mill for gladstone in particular)a little deeper. my research has uncovered a few questions. in a company ann on 31 march last year the company stated that their work on the eis was ready to be finalised and that extra work on the eis courtesy of the queensland government WAS undertaken. which as i read it this extra work was done prior to the ann.
in the same ann the company said considerable resources were spent on assessing and SECURING raw material for the proposed plant.
this is where the company was at 12 months ago, which begs the question. What is the hold up.
the only reason i can come up with, keeping in mind that the qld government seems to feel quite strongly that the project goes ahead, is that the company wishes to negotiate the jv terms before the eis is released to the public.
Also in looking over the project time frame, they have a lot to squeeze into the next twelve months, eg. confirmation on ore supply, eis approval, jv terms (&who it will be with?, also what roll is abs to play moving forward). i would say the holders will have to know something in the very near future ie. by the end of the month or April. News on any of this would kick off a nice run of announcements and share price rising steadily on the back of each one.
however no news in the near term and with the small amount of shares held by mums and dads,(ANZ i think holding 80% thereabouts) the share price could break that 10c support and move slowly down to test the next support at 8.1c.

In saying this i am of the opinion that the steel plant is a go, and we will have the announcement that will kick of a strong run to Christmas for all the holders, it will only be the jv terms that will put a roof on the boulder story after take off.
If the 8.1 support is tested it would be a good price to add to a position if their are some spare pennies in the swear jar!

I have emailed the company with the same questions i have put forward here and am currently awaiting response. though having not dealt with this company before i dont know how cryptic the response will be, or if i will get one at all...