Two guys on here have spoken to NEN management in the last week. Putting both together.
1)The cost over run is very large and will require asset sales to fund, (the $10 mill in the bank is not enough).
2)The company does not want to rush the asset sales because the market knows they are forced sellers, and they won't get a fair price for the assets. This suggests either JV partners are giving NEN some room to sort out their position, or elements remain in dispute.
NEN has a market cap of $18 million, which is not that bad really give the extreme uncertainty.
GL
NEN Price at posting:
3.1¢ Sentiment: None Disclosure: Held
