Being able to ship to the CME warehouses certainly cannot hurt . . . even if CME house of cards comes tumbling down :-) This can only increase interest in the refining services. With all eyes on the cobalt project financing it is too easy to overlook the other parts of the whole FCO story. Having held a bottom around yesterday's pps through multiple recent cycles down for the resource sector one must just have to figure this cannot go too much lower than uncommitted cash in treasury, which is about were we have been for a pps.
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