Yes jbmurc you just cant help thinking these delays may play into the hands of gulf sands very nicely, weak partners all with next to no money. The more this drags on the more money is depleted. Key personnel are allready in place and are on the payroll with probably very little to do until they can satisfy the locals that they are going to get a piece of the pie which will also be costing extra not allowed for cash.
Gulf Sands all cashed up waiting patiently in the wings. Recently announced only a few weeks ago how they want to use this money from memory over 100 million to consolidate and increase there Tunisian investments.
As much as it stinks the recent cash VIL raised might just be enough to pay there way until results are in. All 3 will be praying for good results in the hope of a re rating then do some kind of a cash raising.
With only 10% to cough up i think VIL will be ok. But wow they are vulnerable, hence the drop in SP reflecting this situation which has now added to the risk.
I have a good feeling about SD but dont be surprised to see some predatory action over next few months IMO it will depend on how good the results are, if good watch out for some swift action from Gulf Sands if the results are very good well it might even bring in other players which will bode well for us small players.
LWR
VIL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held