Your point would be valid if the trading price is a true reflection of current NPV but it isn't even close. My DCF model had already assumed WE first gas was in 2027. So it isn't like the slight delay will cause a massive hole in the DCF calculation. Anyway, I am sure everyone in the resource market has noticed the time and cost blowouts in the sector since Covid, and WE EPA approval only came through a few months ago - the multi-year long delay for which was at no fault of STX at all.
I am not saying delays are great. What I am trying to say is to put things in perspective and perhaps not to blow things out of proportions. Like I said, what can STX say... beside WE FID discussion is still ongoing, pending negotiations over some details that is commercial in confidence? That's going to really enlighten the market.
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STX Price at posting:
20.8¢ Sentiment: Buy Disclosure: Held
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