I understand the concern guys and as we get closer to the end of the month stock and especially option holders are going to get increasingly nervous and pessimistic. However this is the time when you need to hold your nerve.
The fact that the company re-affirmed guidance regarding the BFS only days ago in the quarterly fills me with a degree of confidence. The credibility of both the company and Peter L is at risk here and I believe that Peter knows this better then anyone. If there was to be a slight delay in the BFS they would have mentioned something by now.
We have around 110 days until the options expire and that is an eternity in equity markets.
I personally believe the next 6 weeks will re-define the company. My basis of this is the fact that while the BFS is being 'optimised' all parties (Nkwe/Xstrata/Anglo etc)would have a sufficient grasp of the facts and figures to allow negotiations to be ongoing.
Some people seem to assume that only once the BFS is out negotiations will start however both of these would be progressing concurrently. The point is the BFS and potential JV won't be months apart in fact i would expect both to occur within 30 days of each other. The reality is they could be announced together which would be exceptional.
I am fully aware of the companies past failings, however I think we should give them until the end of the month to prove there worth. Making statements implying that the options are going to expire worthless is a little premature at this point in time.
The reality is none of us know what is going on behind the scenes but we will know much more this month I believe.
Good luck to all.
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