RE: Cbaron Hamilton7 Apr 2026 12:56
12.27
NASA1,
Key words and phrases:
"we will together determine the best route to unlock the value" - suggests future tense. They have not yet established how to 'unlock' value. By an FO, clearly, but until someone determines "how to unlock" the rocks, then value cannot be determined and therefore the FO value cannot be determined. Therefore, it must be expected that the FO arrangement, if any, will be a staged process.
" I am looking forward to updating shareholders on our progress in the months to come." - not days, not weeks, even, but 'months to come'. Until that next stage is reached which warrants an RNS, then there will be no news. It is clear that Spencer's timelines are not in the immediate future - it will take as long as it takes.
Expect some SP doldrums.