RE: Every reason NOT to get excited5 Jul 2025 13:02
ChartaRex - great post thank you. I totally get what you are saying and it’s undeniably true.
That said, and I was, and still am, NOT a Poulden fan. Far from it. However, as another poster put it beautifully not even Poulden can ruin the geology in the ground ( if it’s there). So, they ARE clearly going to drill shortly and then it’s no longer about RP. It’s whether there is a discovery down there @550m. That’s it. That simple. I remember when Glen Heddle headed up GGP. He was denigrated too. I think his trade was a bean counter? Anyway, after GGP discovered Havieron he eventually moved aside and GGP brought in a serious player in the industry. No doubt same would happen at Wishbone too. If they make a discovery and big HNW’s and II’s start to come in they will want someone else to run the show.
So, in conclusion, all you say is true but if they make a discovery then it won’t matter a jot and you won’t care either because you’ll be in profit.