Have been around spec stocks 6 years or so- good news like regulatory approvals are positive for sentiment but rarely translate into instant
'mega bucks' rerates for shareholders.
This is our biggest achievement to date yet we are trading well below last year's highs- that's just the stock market for you.
Many more eyes will be watching closely for PIL's next move- the pilot program sounds very interesting as it seems like they have a target community in mind and will no doubt go hard on getting Filipinos involved at that local level.
However these are first steps and will take time to develop, hence subdued market reaction.
Saying that, I wouldn't want to be on the sidelines from now on as Neal Cross hinting at plenty more
to come.
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