There are 2 outcomes. Get the money and role the dice on actually building the projects without any issues, or don't get the money an possibly fold or best case have a massive dilution event. But either way we are no longer at a point where this can be called a 50/50 bet. At this point its more like having a handful of coins and all of them must land on heads for this deal to progress.
Palisade was very clear about being concerned by cost overruns in the NZ project, DEL have failed to bring that disaster to a close even at this point. The Yarra Valley project must look scary are hell to them. They were not even willing to let DEL take a risk on the electricity market stabilising which it has done.
The Toxfree board member hasn't shown any real interest in buying DEL shares throughout his position so I view his position as little more than a free check for him at this point.
I agree there is future in this industry and what they are trying to do has potential. But these guys have screwed up so many times, changes plans and focus at pretty much every update and failed to provide information on what is happening. Its hard to even take a speculative punt on something that you have no idea about. They don't even bother to show off the work they have done in SA or NZ in any meaningful way. They just seem to be a bunch of headless chickens running all over the place.
DEL Price at posting:
3.1¢ Sentiment: Sell Disclosure: Not Held
