IMO the announcement was quite poorly worded. The market was...

IMO the announcement was quite poorly worded.

The market was hounding management for an update on the farm in... well they got it... and it tells you virtually nothing.

As with all of these kinds of arrangments, the negotiations with the parties are commercial in confidence. Therefore these are the only facts known:

* two parties are seriously on the negotiation table
* Those two parties are multi billion dollar organisations; and,
* these discussions "may" lead to a formal proposal in the short to medium term (the JV)

If you were in it for the JV can understand why you sold - there is probably more money to be made in the immediate ST else where.

However, be warned that the words in the announcement were "short to medium term." Those timeframes are not defined precisely and we do not know what stage the negotiations are at... all attempts to interpret those words are pure speculation.

If you wanna roll the dice for a few pips elsewhere, good luck to you. Personally, I've parked a significant portion of my "at risk" portfolio here to play the 1/100 chance to retire at 30.

GL an DYOR