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Fair enough, I didn't know that. :)
So the judges may well spend a bit more time coming to their conclusions in that case. Though I would hope they were as thorough as possible with any judgement they make whether it be high court or court of appeal.
Stokey, surely the original JR judgement last year would also affect future cases? So I don't think that affects timescales since we're still talking 2 points vs the original 7 to give judgement on. Your second point may add some extra time however. I must have missed that the appeal will be a panel of 3-5 judges rather than 1. I would expect each to interpret the law similarly (otherwise the law itself is poorly written) but some may come to a conclusion sooner than others.
I still think Q2 is a pessimistic view for a result given the case, unless you're talking like April rather than May or June. But ultimately it doesn't matter in the grand scheme of things. As shareholders we're more interested in what the company plans to do with it, and know those plans will be progressing in the background alongside the appeal. If it does take into Q2 as you suggest then it may be JW will have a decision ready to announce in the event of a positive outcome.
Even if we don't get an immediate decision from the judge I believe it will be quick. The original JR had 7 points of argument whereas this one is 2, and the judgement of the original case followed a two month summer break in the courts. That took 3.5 months in all. Take off the break and we're down to 1.5 months. This judgement is on 2 points rather than 7 as mentioned, so why would it take longer than 1 month? I'm optimistic we get the result by the end of February, and certainly no later than end of March. Not guaranteed of course.
JW also stated in the September LSE interview that he'd have a good idea of what to do with IM by the end of the year or end of Q1 at the latest. Talks will have been ongoing. I would hope by now JW is able to state which of the three options the company is proceeding with (JV, sale or going alone) even if he's not ready to announce anything final.
Interesting find. I wonder if we'll see contract upgrade news at some point. To be fair the original RNS did say 60-70m and then "base 61m" so definitely scope for extra work. I reckon we ultimately get 70m from this.
£1 in 12 months was always a ramp too far from traders looking for a quick profit. Most reasonable people were predicting 30-40p, but even that was so far off. It was justified however given where it got to in November 2022.
The main drag has been the never ending finance saga, the market doesn't like uncertainty. You'll be waiting for that to close before you see your 20s again. That will mark a huge turning point for the company in the same way the FSS contract did. The next milestone after that will be breaking even and once that is achieved this share will be very attractive.
Yeah silence on AIM often means a depressed share price as people get impatient. Then the news comes and the share bags like BMN and BOIL yesterday. Could well see the same here on a positive announcement. Or it could drop further before news arrives. But the risk reward seems good at this level.
If you believe the finance deal will close then the risk reward is very good at this price point.
I agree there's a lack of interest in the shares right now. It's almost as dull as it was pre FSS. People will still be watching it however for when finance drops.
What's going on with the sale and collapse in share price recently? I dipped in yesterday with a small amount after following for a while (I previously held some last summer). This looks dirt cheap right now.
Mary, people like Broomtree won't be happy until JW purchases a tardis so that he can tell us accurate figures of things that haven't yet happened. Like can we not have the 2024 results already? Might calm him a little!
I rewatched part of the interview from September and JW stated that he expects the company to have a good idea of what they intend to with with IM by the end of the year (2023) or by the end of Q1. I suspect things are moving forward behind the scenes. Hopefully he has an announcement ready to go once the appeal is won.
Good find Kaeren.
One cavern at a time makes the most sense if we were to go it alone rather than as a minority stage in a JV. That way once the first cavern is built the rest would be self funding. Yes it takes longer to get them all done as you say Findingtheta but it is better than taking on extra debt or diluting shareholders.
Share price is dire. Lots clearly going on behind the scenes but other than some social media posts we're being kept in the dark. Communication needs to be better.
There's also no doubt still a lot of people worried about finances which is leading to more sells than buys. I thought we would have held 12p at least however.