Should already have one, but alas nothing expected at all. The conditions precedent have not been met, so not even a starter yet.
As a result of complaints to the ASX, the update in relation to the half year financial statements was released. A golden opportunity for LWP to inform investors on the state of play at Pune. Instead we got this, reading carefully its clear there are conditions (plural) precedent that need to be met before proceeding. LWP has waived a condition (singular) precedent, being the offtake agreement. So in reality there never was a commitment to immediately commence the upgrade, as the remaining conditions precedent were still preventing progress to actual construction and production by 4Q FY2017
I hope the investor that placed the 18 million buy order at the end of the day realises this, although they have only partly filled the order, another 5m odd left to grab tomorrow . Still time to cancel the last of the order and save a little.
LWP Price at posting:
0.1¢ Sentiment: Sell Disclosure: Not Held
