Umm, I cannot come to any other conclusion other than they have finance sorted for Juruena. But whatever that could be: even if it's work mostly contracted out, there appears to be decisions made already to cover Capex for the up coming project building process. My question is -- why haven't any of these arangements been told to us or the ASX? I must be missing something because I would have thought that must be done. If management are saying, " No agreements have been reached, only in-principal agreements" Well why haven't any 'in-principal' agreements been informed to the market? If management are saying," No agreements in any abstract form have been reached yet" Which in my opinion is the only way they don't need to inform the market of price sensitive information: how can management have such strident development targets for Juruena without any agreements? The scoping study was to be released by October 2015. It's now March 2017. I hope that these development targets won't be more of the same -- unrealistic time lines.
My hunch is that this is the real issue regarding the low share price. Let's say that the scoping study is a real beauty. My hunch is that the share price won't drastically go up! There's not enough faith in management ... yet! I believe only when the market is confident that the management team is actually and meaningfully heading towards production with key development goals being met that then, we will see a re-rating in the share price.
Sentiment changed back to hold for now.
CAS Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
