Thanks for those comments c eagle. Much appreciated. The April...

Thanks for those comments c eagle. Much appreciated. The April terrestrial approval has an expiry date of 31 Dec 2036. PBD were planning approx 22 stages over 15 years. Other individual approvals expire earlier, and you could be right in some pulling the timeframe in, especially where marina related. I know that elsewhere it's largely a procedural exercise to extend dates out to the senior approval timeframe. Not sure if that’s the case in WA.

For practical purposes, some material must also be given time to consolidate on land, b4 some stages can be built.

Are significant upfront costs. Wouldn't be surprised to see FKP JV it at a later date - if they do go for full control shortly.

I've enough to be very invested, but won't lose sleep. Will boil down to a game of chicken with FKP. But I believe the underlying assets cover me in any scenario.

SBL- Yes, they won't trade their way out of this. It's solely an asset play, with a twist.

A rare scenario to have specialist 30% shareholder down 89% (13c to 1.5c) in only 2 years. Do FKP take the loss and settle for perhaps 2.5c from the receiver. Do they issue a small number of shares (for them), to take it over and keep the possibility of a positive return alive? Imo they're probably playing a very tough strategic game for this outcome.