Strong upgrade on the complementary geothermal business pipeline. Its just a shame to see the potential momentum of these announcements somewhat lost while the market still dithers over financing completion. Once the final equity structure and financing arrangements are known then these resource upgrades and marginal improvements will imo provide sustainable uplift to the stock, not just temporary fillips that are later prone to retracement on more dithering. We will fast get into a cart-before-the-horse situation announcing incremental resource improvements like this if efforts to lock in the key cornerstone funding, and outline with greater certainty the final capital structure going forward, remain outstanding. Looking forward to seeing some finalisation here soon.
VUL Price at posting:
$3.70 Sentiment: Hold Disclosure: Held
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