So to my mind and I am being really simple.
Pre federal election we were at about 35 - 36c. A week after the election we dropped to 29 - 30c. Environmental approvals that we lack to my mind are worth 5 - 6c.
The latest capital raise took 2.5- 3c out of it. Latest market dramas took another 3c or so out of it.
In the last 6 months there really has not been any announcements to move the share price. Waylering is pre this period.
What can the board control:
- They cannot control the market,
- They can control spending, but last capital raise is history (although I agree another one is not necessarily far away)
- They can have input on environmental approvals. Information on this has been scarce. That is WA approval process, how long does it take, when are expected results.
To my mind we should be enquiring with the board and making them accountable re timing etc of environmental approvals, There has been scant information so far.
Just my opinion, I will email the company.
Ta
Ann: South Erregulla Update, page-138
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