Ann: SFG Project Sea Dragon Review Update, page-127

Pics from 5 Dec vs 9 Jan show progress. So standard HC BS being dished up on this thread. Progress has been made on ponds, site preparation at the river, and access rood or other infrastructure heading to the south (not quite sure what it is - but it is progress of some sort). Does seems like quite a lot of change on the ground in one month over Christmas in a state shut down from covid and a project that is never going to be completed according to the doomsayers.

Keep flogging that story and sell me your shares at 3c please... Thanks!

Definitely do love seeing the product on the shelves at +$33 per KG (retail) and reports of them being sold out.

Since the update on the 1st Nov, 234m shares traded for circa $9m.

And since the 12 Oct update 320m shares for about $13m (i.e. 100m shares between 12 Oct and the 1st Nov update).

I.E. the sell off on either of these announcements is not really on huge volume (12% of the free float (i.e. shares not held by Jan or Ian), and the substantial holders haven't been selling - (Jan Cameron with 900m shares) and Ian Trahar (1.3b) for (Circa 45% of issued capital)...

Tells me that at 90% of holders were happy to hold, the 110 that have sold to someone who wanted them. None of this indicates a big change in overall sentiment, just on the edges pushing the stock down in anticipation of the update.

There wont be buying support from substantial's - they will top up on the next CR if and when it comes (assuming they cant get the debt). They have no interest in supporting the market price - they have too big a holding to monetise out anyway. So why waste $$ on market and keep it dry for CR and end up owning bigger stake through the dilution - Retail holders get screwed again - that's just how the game works.

@wing - great insight mate, thanks for taking the time to pull out the history / milestones of PSD. A good reminder of the investment to date and they underlying value proposition.

That's my view, take it or leave it. Good chats recently all. Even if some of it is unsubstantiated (does spice things up when someone is caught spinning a yarn and never appears on the thread again). Imagine if we had to identify ourselves on HC for full transparency.