Seeing the Kalium companies wound up and the Beyondie project carved up by Pickles, the receivers auctioneer, is grim to say the least. Worse than seeing Kalium suspended. Apart from the brief interest shown by Agrimin and the committed interest shown by RWD, nobody will touch it (note there was an article referencing a Chinese organisation). It's an absolute disgrace to see $80M of taxpayer money and a total investment of $400M be destroyed. Throwing more taxpayer money at it isn't the answer but what is happening is simply wrong. The NAIF board considered the infrastructure they backed to be highly important to Northern Australia. What do they think now? If this outcome is deemed acceptable then NAIF deserves to be examined by a high level inquiry. It's very hard to see a way forward now. Agrimin is looking like their alternative interests may take centre stage. BCI has no support for their SOP (yet). RWD is in a very tough place at the moment. Should RWD or another party make a break through or if potash booms again, those who carved up Beyondie (for almost certainly not much more/less than the amount owed to an already profitable Australian bank) will not look very clever.
RWD Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
