I can't see why we would want to appeal to the attorney general at this stage and don't see why it is such a big talking point. Option 1 wait a month and we will have a decision either way. Option 2, successfully appeal to the attorney general, and give our political foes ammunition to get back in the spotlight by saying we are in bed with the government, which will sour the decision if its in our favour. More long term harm would be done with option 2.
Once the decision is handed down on the 8th we will either be given the green light be the independent judiciary (the last avenue of appeal), or they will call for a judicial review. If a JR is called, that is the point where I would be appealing to the attorney general.
Thats not to say I am happy with the level of communication and PR, but if you are long then you must keep the bigger picture in mind. I would prefer for this to be resolved once and for all, decision made with no further options for recourse, than for us to be in production and have all of these issues continue to dog us for the life of the operation. Continuing the stresses of the last couple of years could be the death of some of us.
IMO the best course of action is being taken, which I why I am happy to still hold. I believe the management do have the long term interests of shareholders at heart at this point. Yes it is short term pain, but for long term gain.
LYC Price at posting:
64.0¢ Sentiment: LT Buy Disclosure: Held
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