After assessing the most recent SPL developments, I have...

After assessing the most recent SPL developments, I have concluded that for the next few weeks some more dumping of shares is more likely to happen than a major positive announcement.

So I'm out again for the time being. Perhaps will buy in again later. I'm accepting the risk of being left behind, but SPL is a complete gamble and this is how I have assessed the current odds. SPL's cash position means that, even if nothing positive ever happens, gamblers can be in and out of this stock for at least two more years.

I still think that a predator may emerge to buy out the company, but probably not just yet because any predator would probably sense that the SP may have further to fall.



All just my humble opinions, my reasons for selling at this time include:

Low global Viraleze sales (insufficient info available to be quantified, but definitely low) does not augur well for future sales and it does not augur well for attracting a takeover.

Continuing big-nothingness for DEP deals. Despite the big-noting, the longer that this goes on, the less likely it seems that a lucrative deal will happen.

SPL's continual big-noting of radiotheranostics, despite being years behind the competitors. It's fine to tell the world about the opportunities, but the big-noting seems over-the-top.

In any company, the CEO and the Chair should be fully independent. SPL's new CEO appears to be an associate of the Chair. For any company whose SP appears to be in terminal decline, this would have been a great opportunity to bring on board an entirely fresh outlook. Also, having the outgoing CEO hanging around for six months to coach the new CEO indicates that there is a determination that nothing will ever change at SPL.

The old SPL strategy of trying to bend the rules appears to be alive and well. (Past examples are reflected by the number of run-ins with medical regulators and with the ASX.) In my opinion, the recent letter to scrapholders ought to have been issued via an ASX announcement so that all market players would have been equally informed. It appears that not even all the scrapholders received the letter.

The technical chart has the SP sitting on a major support line, which technically indicates a probable plummet if it breaks.

There appears to always be an over-confidence that SPL will become profitable. If the confidence is not justified (as the last two decades do seem to indicate) then SPL's cash constraints mean that the options and room to manoeuvre will gradually become more limited, and eventually the available cash will become exhausted. Any takeover might not happen until closer to that time.