Latest news should have no impact on share price. News is slightly positive because the predicted cash costs have not escalated too much.
Normally, for a company such as NCU, permitting would be the prime catalyst to drive the share price but in this case everybody expects that permits will be granted so this is not a prime factor.
We need two developments to work in tandem to set the stage for
1 transfer of land
2 final feasibility study details about open pit mining integrated into underground processing
Both of these matters are likely to happen withing 3 to 6 months. Expect a big share price rise.
Then, the challenge will be raising $1.2b or $1.3b without excessive dilution.
Realistically, a take-out would make more logical sense and this is what is likely to happen sometime in 2013.