trying to remain upbeat, page-31

the likelihood hdr didn't know of potential issues is almost zero. Everymember of the JV receives daily updates. There would have been specualtion, hypothectical modelling done as well as discussions on when they would want to become informed so to speak. A lot of this is incorporated into pre-project planning and within the risk modelling

just to play the devils advocate a little further.. suggesting hdr didn't know of the issues with ching is akin to ignoring the selling in the 36 hrs prior to the announcement.. more importantly WHY were they selling?

Completely agree with you robert, in fact hdr knew about the problems at Ching, and they actually released it to the market on the 27th April. Have a look at the investors presentation released on that day, and read page 3. All the info is there. Why the market didn't pick up on this earlier is beyond me, I'm still a little confused about that. Yet it took a separate announcement from HDR before there was a major market reaction.

Maybe the market views the problems with the gas compressor as more of an issue, as the gas at Ching is currently being flared, rather than pumped back into Banda. From memory, that occurred on the Wednesday or Thursday before the price fall. Either way, it was pretty clear that the info was leaked out before then, probably by someone within WPL if I had to take a guess.

The funny thing with this whole situation is that WPL view the problems at Ching as "immaterial", as the project is still in the ramp-up stage. Why was HDR the only JV partner to release the information to the market????

I wonder if the share price will go back to 2.30+ once the problems at Ching are sorted out, and the AFP clear WPL of any wrongdoings?

As to the insto's buying/selling, I too find it a little difficult to believe that they haven't sold out, or would be unhappy with the current situation. Just telling you what I was told.