Not sure the problems with the SO4 ponds were due to the unlined nature of the ponds. They attempt to explain in their July financing update and the problem appears to be due to how they managed the brine and chemistry. APC has chosen to raise money at the worse time. Rather than spruik potential nickel or gold they should have raised more money when the SP was twice current level. Conditions aren’t great for RWD to do much. Development costs are high and appetite for raising cash not good. I doubt they have learned much from either SO4 or KLL but both have impacted on the sector negatively. RWD can only drill Officer for so long and there is a date by which environmental approvals expire.
RWD Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
