Not sure about that croc. The seemingly endless appeals to block RAMU caused way too much uncertainty for many and they walked away. Every time we won another appeal cropped up making it look like a never ending process. Even dates for hearings and decisions kept getting pushed back. All beyond HIGs control but too frustrating for many.
I personally believe that the delay on Frieda works in our favour given the RAMU delays previous experienced. As RAMU comes online HIG will have a revenue stream and an ability to raise the required cash at a better price. It wouldn't have been pretty raising capital with RAMU hanging in no mans land.
This news is a little unexpected given recent advice and hardly anybody is adding risky stocks to their portfolio pre-xmas. If anything people are trying to minimise their exposure over the holiday period. This might be one of those situations that it goes bang in the new year.
HIG was at 30c recently when it previously looked like the injunctions were sorted out. Now they genuinely have been sorted out the stock is only half that.
HIG Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
