U little ripper

The numbers have lined up for Kevvie to remove the Labor no new mines policy at the National ALP Conference this weekend. A rodent wedgie over the issue seems unlikely now – the prime miniature will have to focus on bribing families in the budget and attacking Labor’s IR and economic policies.

Led by Anthony Albanese, the left estimated yesterday it would only muster votes from 180 of the 397 delegates.

“Rudd will get up and that will be good because Albo will get to run his line and Rudd gets to come in and show what a strong leader he is by spearing the left in the ribs,” a left faction source told Fairfax newspapers.

“Everyone goes away happy.”

A senior Labor frontbencher who will vote to abolish the policy was similarly resigned.

“There will be a stage-managed debate on a couple of issues and the leader will get everything he wants,” the source said.

The Northern Territory looks somewhat more tenuous than South Australia, with Northern Territory’s Federal Member for Lingiari Warren Snowdon arguing against lifting the ban, at odds with Northern Territory Chief Minister Clare Martin who is backing Kevvie’s stance.

Thus, tomorrow we’ll look at grabbing even more SNU, positioned as it is in South Australia where Mike Rann backs more U mining adamantly. Could SNU do an NTU? Drilling starts in July. Another 8 bagger would be very pleasant.

Following our premonition on Tuesday, at last INL seems like it’s on the turn. The quarterly report will probably come out early next week. However this report may not contain all the earnings from shipments, so it is possible there may be a dip again. We’ll hold on and watch closely, as a brief dip to 14.5c may not be out of the question if there’s nervousness following the quarterly’s release.