I think it's important for all holders to keep in mind where SFG is with regards to the development of PSD.
ALL approvals for its development are in place, there's enough cash in the kitty to roll along with important time-constraining steps, and we know that all relevant stakeholders such as NT, WA, Fed Govts, native titleholders, local communities, are fully supportive of PSD development and operations.
There is simply one thing outstanding - the cash required to commence at full pace the development of Step 1, Stage 1 of PSD. Its a big step, but 1 that opens the floodgate to all shareholder's dreams, and forever removes the doubts that this PSD is only a pipedream!
From a business point of view it will create an estimated 1,500 new jobs, clearly will add appreciably to the economics of local businesses in otherwise remote and poorly serviced locations in Northern Australia. This single prawn facility at full capacity will likely add more revenue than the existing beef cattle industry in Northern Australia!
Now we haven't had any recent update since February 2019, at which time it was reported that there were advanced discussions with various groups regarding offtake agreements, and investors. It's been 6 months without any further information, and the only recent news have been relatively minor announcements re NT office opening, rangers being engaged at Legune via NLC etc.
And we have a General Meeting to be held on 20 August.
Call me a cynic or whatever, but my view is that the likelihood of any significant announcement before that Meeting are probably 0%!!! And thus the likelihood of the share price threatening to move appreciably above 9.0 cents is about NIL!!! You don't need to be Einstein to realise why!!!
Therefore I'm of the view that until 20th August is an ideal time to top up your shareholding, certainly not a time to be considering any sale!
After 20th August, the likelihood of an announcement, or even an update, will be heightened. And with it the increased likelihood of an increasing share price.
Sometimes being a cynic can be financially rewarding, let's see if my theory works this time . . .
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