Was that Malaysian Development Order's approval the final unticked box? On a "major issues" basis, I'd say YES.
The Q report (hat tip to Muad for the reminder) will not reflect the Malaysian news or the mezz debt. However, I've regularly read in the Q Activities report events that happened after the reporting period. Hence, I expect to see the positive news.
If time permits, if the mezz debt is signed, it might make it in the Q Activities. That, though, is not important. What is important is that it's done; before is better...
Once financing is resolved: a) ATC begins rolling down the runway (can't help myself with the following), the sky is th limit; b) discussion here turns to construction, delays, then ramping up before commissioning, and; c) the general HPA market. With whispers everywhere also discussed.
Once the dust settles I may break one of my Hard Trading Rules: Never average down. The dust may settle quickly. Today's volume suggests to me that frustrated/despondent investors sold while others (retail I think based on volume) are positioning themselves for a run. Market depth is high and bullish, about ~5 BUY to ~4 sell. With healthy above average volume two trading styles may appear. First, day traders may take notice, although the $0.005 range seems daunting to profit from. Second, momo boys and girls may have ATC on their radars in anticipation of a funademental news flow beginning this morning.
The risk for me now is, with financing, strongly to the UPside. With further delays ATC will be flat to drifting down. With no mezzy it looks like the project is that good that ATC will fall sharply, but not to zero, then wait for another lender, equity raise, convertible bonds, bonds, and Iggy's Plan B which arsenic cited from the AGM.
I am little more bullish today.
Trade accordingly.
OV
ATC Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
