It is interesting times, intriguing to watch it all unfold
Your theory on the CR remains "live" and W7 test results aren't out until August, a while to wait that is for sure.
Recently we have had a few posters talking up the CR but they may have posting to suit their trading position it seems.
Bigdaddy has been a critic for some time, could he be on the money?
We also have Stu's new best mate, wot, he may or may not be a "UI", calling out the CR as fiction off the back of his "convos".
Does the truth sit somewhere in the middle? A bit of hedging by the BOD, testing the market for appetite just in case they need to break the glass?
There is one thing I can't quite get my head around. Bigdaddy says no long term lending until unitisation is resolved. If so, how did we achieve the existing $80M SE facility? With unitisation, where is the burden of proof, on WE titleholders? Or on the SE titleholder? Especially in light of the SE2/3 results which infer some type of compartmentalisation. Yet wot tells us that SE1 funding is ready to drop. How can that be if Euroz are right and there is a pivot to a peaker? How can that be if Euroz are wrong and it's a straight plant? Something isn't adding up.
One thing I do know is that we spent more than I thought in Q2 meaning forward commitments will run the cash position right down. How low will Stu let it go? I know we can defer certain expenditure until output at Walyering lifts in the new calendar year, I expect the Dec quarter will be very quiet unless W7 can get a new Macquarie deal across the line. For now, all eyes now on ED1, need to keep hitting them out the park.
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