The latest ann dated 15 oct stated that norwest were due to complete the study in october. So yes it is due this week. The study was originally due in sept, the delay clearly caused the sideways ranging action in the sp we have experienced to date.
It also doesnt help when someone exercises 500k 20c options (presumably picked up in april cap raise) which in all liklihood hit the market soon after.
All in all the stock has held reasonably well and has only sold off on next to no volume (as it did today in a red market). If indeed the study is released this week it should bounce hard, particularly if the study can reveal a date that coal production recommences and how much it will cost.
With planned production to ramp up to 1mtpa, the current mc of $26m is dirt cheap if proven feasible. IMO She will have her day in the sun soon enough.
JAL Price at posting:
39.2¢ Sentiment: Buy Disclosure: Held
