I feel confident it’ll all still happen, it’s likely the...

I feel confident it’ll all still happen, it’s likely the approval is just caught up in a bureaucratic system outside of their control. I also feel confident that as soon as it arrives they’ll aggressively jump into drilling at Horse Rocks. Investors were valuing this at approx 35c before the downturn of the last few months, so one would think if things turn more positive (which it may look like they are), and there’s some positive news re approval and drilling, that it’ll be back to that level again fairly quickly. In my mind it provides a good buying opportunity now at IPO levels although there’s only a little liquidity. At one point I noticed there were only 3 sell orders in place. Imagine how that’ll go up with Horse Rocks approved and loyalty options on the table! There is risk though, it’s a very early stage and a very small company in a tricky macro environment so it’s understandable that it has been treading water for a while.