RE: Weekend of 7th-10th July 20239 May 2025 11:47
Blubay I was anticipating that de-risking and concomitant sp rise to occur after each "successful" drill; yes, maybe they were only "as expected" but each had a potential risk of failure and with every subsequent "tick in the box" lowering the risk and increasing the overall COS of the project why did the sp not increase accordingly? We are now 5/6ths of the way to production and with minimal outstanding risk and yet the sp is, broadly, where it was when the project started. Why? Well, unfortunately and, surprisingly for me, the retained level of trading money in this stock - every time there is a modest rise in the sp it gets sold into. Traders despite the sp being pretty much flat for months and contained in a very narrow trading range. Not much mileage for traders you might have thought! So are the sells caused by "traders" or is that LTH's taking risk off the table? Bottling out after (perceived) delays and negativity from the doom mongers? If so it seems strange after waiting all this time, with Galactica now 90% de-risked, ML award seemingly close, FS and CPR on the way - why sell with 90% of the race run? Is it funding concerns? Well if so, what is different today than it was 1 week ago, 1 month ago, 1 quarter ago.....?
Whatever. I am very comfortable with my holding and will be sitting on my hands until the big reveal.