It seems misleading that management had to put in a trading halt, when this was fully known to occur by a specific deadline. The Clean Regulator works quite transparently and communicates freely with project holders. I never understood their strategy of hoarding LGCs, receiving the $65/LGC "fine", in the hopes of getting it paid back once generation came online. Problem is, they've generated utterly nothing in 3 years time and focused on poorly executing loss making EPC contracts. They've now got an accumulated $5.6 million locked into these fines and I believe this means they cannot sell the LGC contract without saying goodbye to the $65 fines. All for what? What did management plan to be achieved by putting that huge amount of cash locked into LGCs when they can't afford to build the damn thing to cash in on the contracts? What price will they raise at and will Palisade back up the team by underwriting? I doubt the team will risk much of their cash, they'd be pretty unethical buying shares for dirt cheap from bleeding SHs who've taken an inverse 10-bagger.
DEL Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held
