Simple. The company has presented a business case to move into satellites which is a perfect vertical integration of the business. Despite the massive bumps along the road, which we seem to just scrape through, the company has not announced they will no longer be able to deliver on what has been announced to the market.
Do you sell on rumour or fact atom?
FACT: The company has told the market we are still on track to deliver the launch of a $3bn + satellite (later than planned but still coming) so why would I sell?
FACT: The management / board will be liable under the ASX continuous disclosure rules (and I dare say a class action)
FACT: Management have done a poor job of keeping investors informed throughout the journey.
Only a sycophant believes you can't question managements ability and delivery of project milestones. Incompetence can waste time, money and opportunity but not necessarily kill the delivery. Business is littered with dreamers who had great ideas who had to be removed form their own company because they couldn't take it to the next level. The companies still made it but it needed fresh, independent eyes to remove the 'my company' mentality to get it there.
So I have to ask you atom -
- do you own shares?
- if so do you believe having ex-im step in, place additional conditions on their finance, order a restructure of the board, order a new capital raising and initiate an audit of the books to be the sign of faith in the current management of the company and a tick of confidence?
I look forward to your response. In the meantime the fact ex-im didn't pull the plug is an indication to me there is still the expectation we will be launching Jab 1 and therefore I remain invested. Current management and ability to deliver are not codependent otherwise the Chainsaw Al Dunlaps of the world wouldn't make a living.
NWT Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
