Sunday musings12 Nov 2023 11:22
Bit of an unexpected shocker to put it mildly, but that shock jolts a review.
Whatever shenanigans others elsewhere have been up to, rightly or wrongly, I do have fundamental believe in the integrity of SAV and its officers, past and present.
After such news, rocking Portugal’s political system to its peak, it’s hardly surprising that the SP has been hit, and hit badly. It needs to find an equilibrium at whatever level that might be. It will then depend on whatever happens as to how that SP will recover to it previous low levels or even advance. I shall be looking for key markers.
A continuation of the lack of any comment pointing to any involvement.
Confirmation from the authorities that they are not looking at SAV.
Confirmation that they have identified and boxed off any people / companies.
Thereafter, regular updates to confirm that despite all, the company is continuing to work towards its permitting milestones, preferably early.
The big elephant is the election, what choices are available and the possible impact of the choices made. The issues faced by Portugal remain the same today as this time last week, even if the personnel haven’t . The arguments in favour were taken and agreed by a majority of elected representatives, not a single man. Likewise, the DIA was awarded based on a thorough report from a wide range of acknowledged experts in their respected fields, and following statutory requirements. This was also decided on by the committee, not one solitary person. Confirmation that existing decisions stand and that the general direction of travel remains unchanged, even with stronger management of licencing processes, would boost again.
As an interested shareholder, yes uncertain and unfriendly times, but there is a pathway out of the current position. Just a question of how strong is the stomach.