The problem is that projects do not just develop themselves in a vacuum, there is always a 'hustle and bustle' of activities that get completed and 'ticked off' on a routine basis (i.e. studies finished or updated, community consultation workshops delivered, plant layout options shortlisted, eia inputs established, local gov submissions etc etc)
There is never a calm moment on a busy project, Cinovec project is not showing any of the prerequisite signs of any development activity at all. It has been a year since when the delays were announced and nothing has happened, nothing at all.
In fact EMH is positioned now in an environment of complete uncertainty. No milestones of any sort of significance have been even forecasted. This is a first time that I have ever heard of a major project to incur a huge delay and then use an excuse of blaming a geotech study for needing additional time to announce when another study will be started! This is entirely absurd!
Geotech doesn't take this long nor does it ever mean that the other parallel-delivered workflows on all the other studies stop, they never do. EMH/CEZ just picked a very random excuse and now all the shareholders are waiting for geotech...
What's next? They'll probably blame snow and winter conditions, followed by some other unsubstantiated delays.
Point is - if they are doing anything at all, why is there 0 comms about anything other than to satisfy the mandatory compliance reporting?
EMH Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
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