added 10000 more becuase EXCEPT FOR THE WORLD WIDE SUPPLY OF MN, I see little risk here. The Pre-feas has to tell us that Ketmetco's creation can be scaled up to real production levels; and I EXPECT THAT IT WILL. The next two meaningful data points are BLM perit for mine which given that it has been approved for a mine once before, makes that a slam dunk. On top of that for all the reasons MY69z HAS TOLD US, domestic source of supply of EMM is more than price competittive. 

Given that mn is the 6th or it is 4th most common mineral in earth, we have to be wary of a glut of mn in world wide market relative to stell demand. Given that Chinese, TURKISH, So KOREAN PRODUCTION OF STEEL is growing at at least single digit rates, the glut situation is not a factor here. 

My question is what happens if pre-feas hits and price doesn't move. My view is that as we approach mid-2014 it certainly will move higher. 

I wonder who is selling ?  Are they crazy or am I ?