I think you are quite right on all counts except for the time...

I think you are quite right on all counts except for the time frame. I think the market is probably likely to give them enough time to plan and finance phase 1 before the sp really tanks. That cannot be done over the Christmas period or in January.

Its good to see that management have taken some accountability for the recent disaster and they have appointed a new CFO. I think she deserves some time to get her feet under the desk and settle in to the role. I am sure that what she will find is going to be terrible.

I think as holders we now need to give the business a chance to recover itself.

But I agree on a possible day of reckoning. If they cannot secure a loan for phase 1 then, as I have repeatedly said I think a 10c sp is possible.

The broad direction for Mildura is now right and if they have hired well they might just pull it off. If that is the case, and the big holders stay firm, a long slow recovery in the sp is likely.