down down prices are down, page-2

Hey Christem, you have no idea how close I was to posting almost the exact same thing yesterday, but I didn't want to cop the backlash from Oblong + others.

There doesn't appear to be anything on the horizon that will stop the rot. I called it last August, but I still reckon we'll see 20c before we get anywhere close to $1. Perhaps I was 12 months out?

IMO the big money thinks the Transnet contract stinks. Too conditional perhaps?

I seriously doubt any responsible Bank would provide debt finance to RES without a solid rail haulage contract in place with Transnet, especially in this economic environment. What we have now is basically the same MOU we had with Transnet this time last year with a few additions. The actual haulage contract is still dependent on Transnet completing their allocation study which knowing the way things work in SA will take until the deadline RES set in December. From there, the Banks will deliberate on the contract for another 2-3 months so I'm guessing finance might be sorted by Q1 2013 if we're lucky.

Prior to NEMA, IWULA and the 'Transnet contract' we were trading at around 40 - 45c. Now with all these milestones achieved we are 26c. WTF?