So what does the ASIC prosecution really mean for the company?I have seen an ASX company Director (I believe NVA)charged with insider trading, found guilty and fined a whopping $5000.
It is my opinion that the charges will not stick, as others have pointed out the the video does not explicitly state SKI would fund the mine. A reasonable person could interpret BB's statements as "that now SKI has entered the agreement funding will follow" which a reasonable person could anticipate exactly this occurring.
BB is removed, a fine will occur worst case and the project moves on.
Is it a deal breaker? I think not. The resource is undeniably there. There is a need for it. It will be developed.
Agreed! The auto industry and green energy need 50 of these mines to come on line and quickly. As more political pressure to move towards green energy and electric vehicles comes into play this will accelerate timelines. Postings by Not helds from our peers that we see multiple times per day seem to miss this point. I get it! all peers want to secure funding and come on line first to reduce investment timelines but with the USA announcing that domestic securing of critical minerals no includes Australia; more than a few mines will get up and running. I know I have invested in a couple of Ni plays for this reason.
We have a resource which two of the largest battery producers in the world have seen, examined finically, and decided to commit (In various ways) to the resources this mine could output.
Finance is the key, always has been.
My only concern is that if some of the other big NI plays really want to put down a competitor than legal options such as this one could do some AUZ serious damage.
My Instincts are still saying to hold and see where this goes but I am a small fish who has invested an amount that I can afford to lose.
The political Elections coming in the next week could also do us some favours as well.
My thoughts only as a Holder of this Stock.
Also keen to hear what other holders think.
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