Yep ... stock price must slide downwards when no Net Income earned ... because the company must "pay" its cost of capital ... part of the Residual Earnings model.
Therefore if no "funding" deal as outlined in the financials walkthrough we see ~$4M "loss" (~11% of ~$34M of BV of CSE) or about $0.005/sh
Of course more punitive than that to the share price is loss of investor confidence. If I just use round numbers the BV of our equity is ~$0.05/sh ... so the my argument is presently there is ~+$0.1/sh of "speculative value". So if the project timeline is long they'll get impatient and depart.
IF YOU BELIEVE that the project is a good project, and reasons to believe that are:
There's more ... all in the Sep Qtrly.
So if that list isn't enough to attract private capital then public capital (i.e. Gov't funding) ought to be committed via the>$100B in "infrastructure" commitments ...
Unfortunately without "imminent" partnership funding some form of equity raise is needed
That 2.85 will be less than 2 come the Dec Qtrly and an explanation will be necessary
I guess the plan may have been that the PPL would juice the SP so that a (smallish) CR could be done at higher SP prior to a JV funding arrangement. Be interesting to see what kind of deal(s) come forward for us the equity owners.
(20min delay)