NEWTG looking back at previous posts, you seem to be extremely positive on this stock. Im wondering why the air of confidence? Is there something you know that is yet to be realsed to the rest of us? Would it be fair to say that if the ABG license decision is not reversed, then the company is well and truly screwed??
I do hold NWT for some reason unknown to myself, but my patience is wearing extremely thin
This is an article that I read a while back which doesnt give me any confidence whatsoever going forward
Australian satellite and Internet service provider, NewSat Limited’s reapplication for an Australian Broadband Guarantee (ABG) license will not be considered in two months time by the Department of Broadband Communications and the Digital Economy.
CRN originally reported NewSat Limited, had its application for an Australian Broadband Guarantee (ABG) license put on hold by the Department of Broadband Communications and the Digital Economy.
At the time of press earlier this week, NewSat CEO, Adrian Ballintine said NewSat could reapply for the license in two months. According to Ballintine in a statement to the ASX, NewSat would work with the Department to address its concerns and seek an early review of the decision.
However the Department of Broadband Communications and the Digital Economy has told CRN that Newsat’s application for registration was declined and there is no further opportunity under the current round to submit a revised application.
“The company would be entitled to re-apply for registration under any future registration round. Newsat has received a full de-brief on the Department’s assessment of its application, including information about areas where its application would need to be improved should it seek registration under any future registration round.
"Details of any future registration round including the date for receipt of applications would be notified on the DBCDE website,” stated Celia Hevesi Corporate Communications at the Department of Broadband, Communications and the Digital Economy.
According to Hevesi, there were a range of selection criterias which the Department uses to assess applicants for registration under the Australian Broadband Guarantee. These include the operational and financial sustainability of the applicant, the technical solution proposed to be put in place, the service areas proposed to covered, and the services proposed to be offered.
“Newsat did not meet all of the criteria to a satisfactory level. The parts of Newsat’s application which did not satisfactorily meet the assessment criteria are confidential to the Department and Newsat, which has been fully informed of the assessment,” she stated.
However the Department told CRN there were already a number of registered satellite providers providing competitive registered services throughout Australia. All are identified on the Department’s website at http://www.dbcde.gov.au/.
NWT Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
