Suspect it is in Sydney to provide an opportunity to be face to face with the more analysts, (big) potential investors and the broad financial community. If not during the AGM, at least shortly after.
Particularly if the JV has been signed, it's a good opportunity to network directly with the financial sector on the business prospects.
Even with the JV signed, expect FBR will still need to raise some more cash (financing or more shares) as there will not be much revenue coming in initially, until they get a number of HX's in the field. Will still need some financial support.
Pivac's are smart and always have a good strategy. So will not be in Sydney just for the good views of the harbour. Time will tell.
FBR Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
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(20min delay)