It could easily fall to .002 in the absence of PPA's, I cannot understand why consolidation was done before PPA's. I did mention to KP in an email my concerns and he couldn't see my point, he claimed would help on the upside coming off a higher base. Well Newsflash we will be coming of a 10x lower base.
All I can suggest is perhaps management expected to have PPA's before or during consolidation process otherwise it makes no sense to me.
I will be reading carefully the Quarterly Report which is due out by Tuesday as to what is said about PPA's and I expect to get a good belly laugh out of talk on diversification.
Re: Penola, I did ask KP if we had applied for CEFC funds but got no reply, there will be no second chance to apply for CEFC funds as Abbott has promised to close it down. It would also be nice to hear of any findings from the university research into the existing well at Penola.
It seems to me they have put all their eggs into the Indonesia basket and the basket has a huge hole in the bottom.
You are right about Indonesia being a pipe dream, should rename the place fantasy island
PAX Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
