Nice work Dave. I personally was pretty angry that they missed the completion deadlines. I have built alot of factories, DC, and offices throughout Asia and we don't usually stray from deadlines and budgets so far. You are right though, what's done is done and we need to look forward. The positive is the SP now in my opinion. You would have to think that the news can only be mainly good from here. I figure the only bad news could be a) Missed the schedule again, which is probably already baked into the price, or b) We need more money. You would hope that they have learned from the past and have given themselves a contingency buffer on both before announcing promises to the market.We do know that the last delay was due to the power upgrade permission in Sydney and the agreement with the LL in Melbourne in regards to subleasing space. I remember reading that the power upgrade was confirmed by the bureaucracy, so then its a just a matter of installation by the power providers. I believe completion of the Syd. DC must be close. I'm sure that they looked at the time and money and energy that it took to get the initial power upgrade and thought that its not worth going through the process twice, so they figured it best to do the entire center at one time. Thus the cap raise.
We need to also remember that although they are paying 1400 odd, per day for the new guy, they also reduced the old guy's salary from the balance sheet, so it is probably not much difference in the scheme of things. I have been topping up more at this price, especially since MQG has also been doing so. This think the SP moving at 2% increments at todays price? so any buying is going to give a great return IMO. There is hardly any resistance atm.
