It is super tempting to buy more, but the single biggest problem facing the stock is the market zero trust in management. And it is zero.
My person view: I don't believe there is any outstanding DD to be undertaken by Palisade. October the documentation was executed with Palisade, so we have progressed over 4 months since that date. There is no way such projects take 4 months to DD, let alone the preliminary DD that would have been undertaken by Palisade prior to the finance deal being executed.
DEL management have not got VIC 1 and SA 1 to a status that FID can be taken by Palisade - that is the problem.
It would be fantastic to have clarify on what is actually causing the delay, but given DEL management are so hopeless at communicating to the market we are left in the dark.
I don't know what they could be scared of, given the complete sh&^ show (and subsequent share price fall) we have been unfold over the last 18 months.
DEL Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
