Re: AGM
Thanks Jets. All full of promise but so far they invariably fail to deliver!
I don't think there is much point selling out here unless there is a very compelling switch to go into. The key point is point 3 being NPV values far outweigh market cap.
However to realise that NPV they must invest more and as we can see they've run out of cash. That means further dilution which will screw NPV/shr or some other solution farm-down asset sale. Unfortunately, the farm-down asset sale route will be at a big discoun to NPV so until this is unravelled its not a pretty picture.
On the plus side if they can unravel it we might see some sort of uplift.
Log