Simple the market doesn't lie... The AGM signed nothing more than SLX will trade at cash holding price or the foreseeable future. At least until 2020 at the earliest, 11% decrease after the AGM says it all. There was nothing here showing anything has really progressed in the last period.
As for Translucent and Solar - No clear dates supplied, no information on who these contractors are or what skills they have in the area - who are they/what are they being paid?
He couldn't answer the question about returning to the shareholders and stated that its very early days here, he then goes on to say that they are finding it hard to get investors as they are not ready for market. :/
You cant for a second trust the commercial aspects of this company, how many business failures of the past have been ignored. Buying solar plants, buying businesses that are now closed down etc. There is NO clear income or commercial clarification, listen to GM speak the word "IF" was used over and over and over again in regards to the figures or potential revenues.
He basically said to the market today concentration is on GLE and BOTH plants are on delay and will only come online in many years to come "if" the market recovers in years to come. He has no idea which plant will come first and when income will come to SLX as its all based on triggers and out of SLX control. THIS READS TO THE MARKET AS - NO $$$$$ COMING FOR YEARS. 2020 is a "IF" and even then trigger payments are unclear, even worse income from Solar and Translucent investments are unclear and seem to be miles away. Ill check back on SLX in 3-5 years time .... Im no longer being blind to what's going on.
SLX Price at posting:
58.0¢ Sentiment: Sell Disclosure: Not Held
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