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54.5¢ primero group limited

Well put @SteveSageThe quoted statement was from their financial...

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sonos15

12 Posts.

3

03/11/20

14:17

Post #: 48612215
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Originally posted by SteveSage: ↑

sonos15
I'm not sure when that was from, but on the 3rd of Sept they lost the case wrt SOPA decision on the 16.9m, and then they lost another case (in SA Supreme court) to move the case to WA (this was 1 Oct).

It seems the judgement on 1Oct was partly due to the case in WA not sufficiently advanced for SA to determine if the case would cover the same ground....I'm really perplexed as to why Primero is not doing everything it can to move this along given the amount of monies involved.

Perhaps they are looking to make the case watertight, but losing 2 cases already in the SA Supreme court does not fill me with a great deal of confidence on their strategy (esp vs Wartsila who have an in-house team that does analytics on whether a case is worth disputing).

I'm still scratching my head as to how the estimate of work was out by >50m so I'm assuming that Primero are not total incompetent buffoons, but then again, perhaps I should not risk such a large amount of my personal wealth on assumptions on a company that is struggling to collect >80% of the income they thought they earned on a project.

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Well put @SteveSage

The quoted statement was from their financial statements - October has come and gone and no update.

PGX Price at posting: 41.5¢ Sentiment: Hold Disclosure: Held
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