I've read the report and the presentation now, and made updates to the research paper published earlier.
The sales in the latter period were good and I think the quarterly for Jan 2017-March 2017 might show further decent improvements in revenue. But this is the small fry of pulling what's out of the existing ponds...
This quote, from the presentation, is the real eye-opener:
"At this time, the company expects a delay to the final investment decision of up to 3 months, with project development to commence in the dry of 2018."
That's a full 12-month delay to Project Sea Dragon - 2017 dry season works are now history.
I'm surprised the shares didn't fall further. That could be construed as a good sign that investors are now stuck fast and aren't looking for an overnight sensation, but I can't see anything pushing the price north other than fresh (and perhaps unexpected) good news.
FID 3 months away - here's hoping for good news for the end of May for holders.
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