will their prawns be wiped out like the others???, page-24

Hi Toasty,

I've been thinking about what you mentioned last week, and your positive feedback from the phone call with SFG. Imo there is a divergence between the status of PSD and the share price, certainly not helped by the lack of news from the company re the feasibility study etc.
I believe that management is completely focused on getting all the different facets of the new development aligned, ie the Feasibility Study, the ILUA, EIS, funding etc, all of which takes time as we all know. And assumedly things are progressing well on all of those things. But at the same time the company has put almost no (visible) effort into informing the market by way of status updates.
Therefore until we see some of these milestones being achieved the market will continue to languish imo, and the selling by at least some bigger holders will continue - this is good for anyone wanting to build a position, but since I'd imagine most have already built a position (months ago!), then the frustration of seeing continual large chunks appearing on the Offer.
Personally I believe all companies have an obligation to inform shareholders on a regular basis, the fact that SFG some how manages to duck below regulatory 3 month reporting as a minimum beats me, and more importantly doesn't help the company either. After all, from time to time the company needs working capital let alone development funding, so I'd assume its more capital efficient that working capital at a reasonable price.
Imo PSD is a great story, but SFG hasn't managed to capitalise as much as it could have with a clearer more transparent message for all shareholders plus potential investors. Mind you I'm happy to be proven wrong!