Theres a lot Lindsay didn’t say in his remarks to Chuk yesterday, but taken at face value - we now know the construction contract has not yet been signed. This was flagged by the company 4 weeks ago, and has not been resolved since. And while we don’t know the reasons for the delay, it is apparently not due to cost overruns. Furthermore (as flagged in the QAR and implied again by Lindsay), we know the contract is expected to be signed in the next few weeks. Lindsay seemed very reluctant to discuss what is likely to transpire between now and EOQ.
All of these various pieces of intelligence, combined with Lindsay’s recent LinkedIn post showing him in Angola meeting with finance rain makers (among others) lead me to think the signing of the construction contract has been held up pending a near term funding announcement
MNB Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held
