Well the market obviously hasn't appreciated this latest news. The stock is going down about 28% over last couple of days.
Well I'm not overly surprised, considering this is a stock which promises the world though never seems to follow through before announcing another acquisition.
I suppose sources of funding is a big question as well as the anticipated timeline. Is the processing plant off the table as it (again) hasn't passed due diligence? What about the existing leases in the NT? Why is the company continually seeking out options with next to no assets, a poor reputation for acquisitions and a board with a questionable history?
I hate to sound negative but this continual cycle of announcing proposed acquisitions with little to no updates thereafter does seem to have worn thin. Is it to fuel a fire sale prior to abandoning a sinking ship?
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