Well clearly the drilling hinges on the permit, so they took the timings they were given and planned for a drilling campaign in Dec. If they didn't plan for this then that would have been a red flag in your books & now that they have planned based on the generic timings they have been given that's also a red flag. All they intended to say is that as soon as they have the permits they will be drilling straight afterwards.
I'm almost certain the rolling permit strategy is the same, they are waiting until after they have received their first one which i thought was pretty easy to figure out based on what they have said. They assumed on the generic timings that they were given that they have their permit by now, hence, telling us the other applications would be submitted by now.
Their strategy has been delivering profits for SH for the past 18 months. The only issues/delays have been bureaucratic. People are making assumptions on their rolling permit strategy and painting it as a failure without having the context of their strategy, which is something they don't need to report to us.
Whats that quote from Warren Buffet? the stock market is a device for transferring money from the impatient to the patient? Couldn't be clearer here. No patience so you start making up red flags
BNL Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
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