The hardest thing in a situation like this is patience. The longer things drag on the more the "worry" side of your brain kicks in and you start to look at all the negative outcomes.
Normally when a company has little cash and running out of time, you can only be adopting a negative view of potential outcomes. Just ask those on The Star shareholder register!
In this instance, we have a few things going our way. I believe that they have a number of parties active in their deal room - certainly more than one and I believe more than 2. They also have some interesting assets that are shaping up to have Tier 2 or even Tier 1 potential. That gets people's attention. They are also blessed to be playing this out against a record gold price and suggestions that the gold price will push higher yet - the cycle is on our side.
Then most importantly you also have FOMO. If we didn't have competitive pressure (or if it became known there was no competitive pressure) we have a weak hand. But in this instance, that is not the case - the team has been a vault when it comes to info on progress (no leaks) plus as I say, the very strong suggestion of competitive tension. That at least provide the opportunity for a good outcome for STM shareholders.
I don't think Raymond is far off the mark when he suggests STM shareholders should look forward to the arrival of the Easter Bunny. That is my thinking on likely timing as well. Today (Ash Wednesday) starts the official church countdown to Easter, so the clock is now definitely ticking for an outcome.
And I don't think PD being in Canada this week is simply just a prior planned corporate junket...
STM Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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