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The price rose based on Gina's acquisition next door and...

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tpress29

9 Posts.

29/03/21

08:44

Post #: 52101383
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Originally posted by Pat07350: ↑

what’s changed? The share price rose on anticipation of the rescission of the categorisation policy. Now we a back to square one. It’s obviously a big deal otherwise the underwriter of the option agreement would not have pulled out.

We need a positive announcement from the regulator and funding announcement from Atrum before this will climb back.

In a worst case scenario the regulation could permanently ban mining in the crows nest pass. Our only option then is to sue for sunk cost of $40million. I think the regulator will try and avoid this and issue a vague policy that will allow us to continue but it will take along time to be approved if ever and good luck finding funding going forward under this scenario.

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The price rose based on Gina's acquisition next door and the increase of the coal available to Atrium.

The return to the old policy is just temporary whilst the regulator gets a new policy on the books to appease those that complained. What will most likely be in its place is a strict environmental policy which really is to be expected anyway.

just my opinion.

ATU Price at posting: 7.4¢ Sentiment: Buy Disclosure: Held
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