" very heavy rain in March." Ive got a son working as a drillers...

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raiderup

27,638 Posts.

84

02/04/15

22:31

Post #: 15031407
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Originally posted by Shady Merv ↑

Geez, I had trouble finding that info re the drilling postponement in the AR Leroy, but there it is at the top of page 40 as part of note 5 to the Financial Statements. How did you find that?

So the let-out is a force majeure eh - very heavy rain in March. Where was the force majeure prior to that? Not impressed! So another 3 months to get this done. If Whitestone could not do the job in 9 months, then the bookie's odds available on doing it in 3 months should be 20-1. This deal has to be watertight (pardon the inappropriate pun) so as to guarantee that the job WILL be done within time and with severe penalties to apply if it's not.

The news is like small print, and to boot, it's in the Annual Report in the financial section. I hope that management is not trying to hide this very important info, but apart from that, this info should imo, as part of good governance, be released in a separate Ann and be labelled as 'price-sensitive'.

This further delay must be having an effect on the market, hence 'price-sensitive'. Just look at the market. Who has been selling? It would be good to find out!

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" very heavy rain in March."

Ive got a son working as a drillers offsider for layne's up at bhp,the rain was that heavy,it washed away a parked ute-bhp were not amused.
I'd buy into this company ,but a previous promise prevents me form doing so.

Raider

HOR Price at posting: 1.7¢ Sentiment: None Disclosure: Not Held
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