We see a down trend in SP every time FBR is short of cash. Correct me if im wrong but they need a raise or alternative this quarter? For our Ninja with no diplomacy skills thats a question not a statement so keep your hat on and blade in sheath.
When they sell 2 hx they will recieve 6.3 mill AUD plus a rolling loan for future hx machines. I believe they still have a little in the rolling loan. So all goes ahead this week we could see them survive one more quarter and future quarter reduction in spending with future hadrians covered by CRH. With that said a lot can happen in next quarter with builder commitments significantly increasing confidence and hopfurly SP increase before a raise. We all want that one big raise to settle next 18 months.
The problem is money in the bank. Walking the tight rope with cash available. This is a big risk but the reward looks like it will be much greater. I do think each time FBR is low cash people run, ive even done it myself but not again.
FBR Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
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