The suspension has come about due to the AFR article and the Hotcopper Ad, neither of which I recall reading in any great detail. The heart of their concerns seem to be the prospective resource figure (derived from the Pangean report) and their estimate of production cost per/Gj. I have no doubt about the bona fides of the Pangean Report, the idea of querying a report released in 2010 is bizarre IMO and not much David could do about that. The production cost estimate doesn't seem unrealistic to me, it's higher than other projects, it's below the cap, and TBH I am not sure what the fuss is about. If it were deemed an inappropriate thing to publish, what would the penalty be? I take some solace out the fact that BUY was re-instated, if the concerns around the BPH were truly significant, BUY would have been kept on ice too. I suspect BUY argued that they weren't involved in the AFR article or the Hotcopper ad so the ASX had little choice to re-instate them.
It is frustrating that BPH could not enjoy what BUY experienced today but that day will come.
As to costs, people that know David tell me he wouldn't shout if a shark bit him, it's probably the safest bet in this whole shemozzle that the Government is picking up the tab for the Federal Court case.
Will the JA approve the NOPTA application? It's probably a topic for another day, but having read the NOPTA recommendation, and read Keith Pitt's explanation for why he felt he had no choice but to approve it, I don't see how the current JA could deviate from accepting NOPTA's recommendation. NOPTA are the experts in their field, not career politicians or their advisers, so as much as Albo wedged himself on this issue, due process should result in a positive outcome. JMO. Be in no doubt, today was a great day, and our day will come.
BPH Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
(20min delay)