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I have to say that RNS is as clear as mud, its gone from "definitely to maybe" with offtakers, with a couple more ifs and maybes thrown in for good measure.
Now im not in a position to tell someone how to do their job, but imho surely it'd have been an idea to get the first 2 caverns "definitely" signed off then deal with the other 5 dealt with later, so the project is "definitely" moving forward.
I saw this company as a multi bagger or bust, but was quietly confident of the former being the case .... this RNS has changed that.
If you had 10 houses to sell but only wanted to part with two to test the water but someone offered you a fab deal to take on your whole portfolio wouldn't you consider it? Ever sold a house? Ever bought a house? How long does it take? Multiply that by ten and that's where we are
Spot on ...you just try selling a house nowadays ..a lot of tedious paperwork with 60 + many nonsensical questions,ridiculous time scales for Searches etc and sometimes hopeless agents and conveyancers ..oh and surveyors .OK rant over but the point is just so valid ..Spot on again !! Best for one deal if the partner is tip top as we all suspect and hope !! is the case.
Aunty that analogy is appalling, how can you compare someone selling 10 houses that metaphorically exist as opposed to 7 caverns that don't.
A bird in the hand is better than 2 in the bush is more apt.
What the RNS states is what was seemingly said last night, this saw the share price drop 12% which speaks volumes.
I will sleep on whether to continue with the all or nothing strategy.
Ok you're a developer building 10 houses and you're selling off plan. Developer would bite your hands off if you offered a good deal for all 10 at a discount to individual sales. The houses don't exist yet, the eventual sale and exchange of contracts might take a year and in that time each individual house has gone up in price by the time the sale has gone through, remember you bought at a discount for all 10. CHRISSAKE!
Evening All,
My take is that the RNS released tonight should have been released yesterday before the meeting, it does contain information that should have been put out for everyone to digest. Having said that much of it is speculation on what might or might not happen, and it's plain for all to see that negotiations on several fronts on still ongoing. Maybe some comments were made at the presentation were made that should not have been, I'm not too bothered about that, my view is that the people who actually bother to attend these events at their own expense are entitled to a little extra information, after all, the information is not exactly earth shattering new stuff, is it?
I doubt whether releasing the RNS beforehand would have helped the sp, it appears that the mischief makers have had a very good day in sowing the seeds of doubt!! although looking at the trades buy's outnumber sells? nonetheless a little bit of negative speculation always does the trick to ensure those who want to get the sp down succeed!!
I will live with the drop today, short term in my view, and an excellent opportunity to either top up or get back in for those that may have jumped ship. The market does not like delay, although in this case there is a delay or maybe! but there is also a moving forward in respect of the bigger phase, (Five Caverns) so for me this is all good news and will certainly speed up the project as a whole. Plenty of cash coming in shortly and confirmation that an application is being made for further EU funding. Yet more positives.
Overall another good update, people selling now will live to regret it in my opinion, as within the next few months the sp will be well over 1p.
Mr T