Absolutely agree. The real potential and upside in this business will develop much further from the base case presented in the DFS. The Banks don't lend on a story based on future potential! The base case (which, as you have pointed out, is very different to the PFS model) has been shown to be robust on it's own and this gives a good foundation to launch the business and add the "blue sky" product applications from there. IMO, too many expected a "rocket" in the SP upon the release of the DFS but this was never going to happen. Couple this with a release of the DFS mid-session and the coordinated dumping of shares by the Traders and Shorters as soon as the DFS hit and we saw the panic selling that resulted. There is no way that early sellers had the time to go through and understand all 70+ pages of detail in the DFS before making their decision to sell. They read the highlights page, saw the SP dropping and pushed the sell button to "get out before the bottom". I have never seen so much FUD as I saw on these ADN threads yesterday. Old posters reappeared and new posters joined in to promote and encourage further panic. The cool heads will prevail in this situation and time will confirm that.
Today, we heard some more detail and explanation of the DFS from James and Joe and we have seen some decent buying along with a bit of a bounce in the SP. I expect that to continue as the story unfolds and the market gains some confidence in the way forward. For the record, I have held on and have not sold one share - as I believe the future of this Company is bright....pardon the pun!
ADN Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
(20min delay)