shareholder update, page-283

Not trying to up ramp here.

From my perspective, this week price action was good to accumulate. I was in a bit early last week at low 60c initially. After this, I was waiting to see if the 50c resistant will be broken. Once it looks this is not be the case, I am accumulating more at this level. The downside risk is much smaller compare to the upside gain.

Until Sep, there are 3 possible outcomes. First, the JV doesn't going ahead due to conditions precedent not met. This is what retail investors want prior to the announcement anyway, so it's likely that more will come back and drive the SP up. Second, if the JV goes ahead and the roadshow is viewed positively by institutions, this will attract more institutional investors which will likely drive the SP up. The third scenario is that the roadshow will be viewed as neutral or not positively by institutions, which may cause the SP to drift and go lower in the short term.

In any case, I am accumulating atm.