RE: Radio silence6 Feb 2020 12:06
I have to agree the way news is framed can often seem deliberately flat. There was an opportunity to announce the end of drilling in a much more positive way without ramping. They could have waited for drill completion and announced (as they did in the media after TO25 completion) that we have enough core, have proved the economics and are concentrating on x, y, z other works to start marketing the asset, while preserving cash. The change in strategy could easily have been communicated in a much more positive way and still been 100% accurate. Right now the good bit, in short there's a reason LR does LinkedIn and not Twitter. He is addressing the industry, not PI's as he knows promoting the company to us will help the SP but make not a jot of difference to a frictionless sale, this is becoming increasingly stark as we near the end. If you want proof of this outlook go all the way back to the Shares Magazine investor presentation from 2018 and you'll see the mantra hasn't changed, totally about strong economics, pointless just drilling without that, political stability, infrastructure and so on. Interestingly he says they were talking to the industry back then and even conducted site visits. Finally and total speculation but he has talked about a frictionless transaction and I just wonder if operationally we are already in a transitional phase, could there be on-site involvement from someone else hence no up to date pictures? Just a thought.