It is normal for people to take profit when SP has more than doubled. The news tomorrow am nothing much.
Over the next 6 months would still mainly be updates on the status of the LNG project. Here is the key;
1. Will market begin to factor in LNG production taking off 3-4 months before production actually takes off
2. Or will market only begin to revalue the SP when production has finally taken off.
So it is just whether it will be SP taking off in the next 6 months or later. Or perhaps a bit of both.
Another point is: all necessary license basically have been approved. When the POD(plan of development ) was not granted, SP was higher than now. Richard Chandler's cost is higher than 40cents because we bought it all the way up. Standaradr Chartered's possible cost is 50cents if converted into equity. Capital Group is also in.
These 3 different group of entities or gentleman are way more professional and sophisticated than myself. If you check back Richard Chandler's track record, he invests before it takes off and makes 5 to 10 baggers on his investments.
EWC Price at posting:
44.0¢ Sentiment: LT Buy Disclosure: Held
