I won't blame NE and IC for selling though. They had every right to do it. I am not saying you do blame them but in case some people do.
But you are right those trades should have been strong indicator that the SP was in fluff land.
As bedger pointed out if ASM manages to nail few contracts that can offer clear path to profitability it will help the situation a lot. Such contracts will allow for banks to give the plant (or plants) higher valuations and reduce the risk to fund the Dubbo development. Also, SP will move higher which will allow for cheaper CR as CR will, most likely, be still needed.
My main concern is how IG is handling this as he happens to be a chairman of ALK where I have large exposure. Hence why I keep an eye on ASM.
ASM Price at posting:
$1.35 Sentiment: None Disclosure: Not Held
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