my apologies if i have offended you or anyone on this forum but in all honesty i do not know how on earth management will get this satellite off the ground. This project will cost $400million. It was also said in an announcement last year that an announcement regarding financing was to be released by the end of the first callender quarter this year which would've been april.
They were also supposed to announce financing closure last June and then last September. This announcement clearly shows they have nowhere near the funding sown up that they have implied in the past.
The only good thing is the underlying NWT business is performing reasonably strongly which should underpin the current share price but it is a worry issuing more and more shares to fund the Jabiru pipedream. If they were to issue shares to fund Jabiru it would require at least 3 or 4 times more the current shares on market for a high risk project with a number of large organisations as potential future competitiors.
I'd be waiting for more certainty on funding before investing in NWT on that basis. In the meantime there are many more prospective stocks in the short-term. Just my opinion.
NWT Price at posting:
40.0¢ Sentiment: None Disclosure: Held
