Taking delivery of units in March is an encouraging piece of information, i think alot of the weakness is continued apprehension by investors to take Craig on his word, and ultimately what everyone wants to know is if and when the units are genuinely going to get out there. He probably only made one obvious mistake this time around, saying the discount on the share issue was only going to be small, when it was in fact over 30%. Small details like this create distrust and force the market to derisk.
I get the feeling they want to do another "impact" launch, hence they are trying to keep their promotional powder dry, but probably recognized in the continued weakness an urgent need for more operational disclosure.
CDX Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held
