Sea Struct was delayed, but in the recent BRR interview, Lange said it should be settled by the latest 31/3. That doesn't suggest to me there is any thought of it not going ahead.
For those whinging that it's fallen 50% from recent highs, yes that is true, but really it's only fallen about 35% since the turmoil started on the markets. Remember, IMO the price was driven down to ensure a placement price that would be attractive to the insto's, and hence it was around the $1 mark when all hell broke loose on the markets.
Okay so the overall market is down 20% and NMS is down 35%, but smaller companies are always more vulnerable and seem to get hit harder in these situations.
The services industry seems to be getting caned at the moment because of reports of cost blowouts and tighter margins, but IMO this is referring to the mining services industry. Neptune is in the oil and gas services sector, which is different altogether.
If you are so deeply concerned about the possibility of there being something wrong due to the fall in share price, you have two options.
1. Report it to ASIC because if that is true then it is insider trading.
2. Sell and find something else to invest in, or if you believe the potential, then use this as an opportunity to buy more.
The proof (or otherwise) should be in the half year results, which should be out later this month.
Until then, take a chill pill.
NMS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
