Hi All, to state the obvious its the last day in April, the...

Hi All, to state the obvious its the last day in April, the month that PB stated the CLC agreement would be done and dusted.

We all remember PBs obvious frustration in the BRR late 2017 in dealing with third parties when trying to close a deal. In fairness he may have been implying NT Govt in demonstrating that frustration but CLC agreement fits into the same catagory.

We know TNG have been working with the Committee for over 18 months on finalising the agreement terms and as early mid 2017 indicated closure was within grasp. Later at AGM and after PB went on record by putting a line in the sand "April 2018".

PB now finds himself in the difficult position giving a firm timeline that is likely to be breached but is in part not in his control and therefor possibly not of his making.

It maybe that we are updated today, probably not. If not it maybe that we receive confirmation that the agreement is done and dusted within days but outside the stated timeline. Whats a couple of days? The problem is the historic background of timeline breaches including some in management's control or knowledge.

It is also the oppies exercise date that is now only 6 weeks away and the SP is unapealingly well under the strike price let alone the the combined purchase and strike price without factoring in a premium for Risk. More, however, the SP needs to be stable and above the strike price well be for 15 June to give holders comfort and allow those who need to, to sell off some heads to pay the strike price. We need a month at least to allow flow say 10 mill shares to be traded for that purpose without putting downward pressure on the SP.

I'm confident that PB and The BOD will pull it together but acknowledge things are getting a bit edgy and expect there will be comments today big time.

Let's see.