Disastrous result but not unexpected in today risk averse world.
Is it a case of politicians saving their own careers or a bad project? I’ve said recently that politicians are in it for themselves and they will have a run a career risk analysis and the risk of a failure would have been quite high. If they had pursued the deal abc and others would have hounded them out of parliament for mismanagement of funds etc. suspect media would have done this even if cce pulled things together (visualising the T1000 merging back in Terminator 2).
where that leaves CCE. It’s pretty much it.... if they can somehow get on top of expenditure and have money for a project do they still have access to AWEP (sand patch is theirs) or is it back to GI? It’s not clear if funding is pulled or contract for AWEP is cancelled (per abc reporting) if funding pulled cce could still have right to build on their own I would assume. If cancelled outright then GI is still available to them I suspect. Although at this point that is looking very unlikely.
Class action??? It possibly time to have a serious discussion about a way forward and litigation of John Davidson and possibly MO and a few others. aSIC is u likely to do much and possibly a civil action on the directors might help some of our losses.
In the last few share transactions john davidsons address in floreat has been listed perhaps a picket line at front of his place for media purposes or some letters his way may be appropriate - be careful you don’t break any laws if you choose either of these paths.
Very disappointed in this. I’m currently down about 110k on two stocks that had great potential one was a mule and will unlikely never come back but ceto still has potential/ is viable at this point (it still has value of $15mill (rather than $0) think of it like this - it’s shrodingers ceto - as shareholders don’t know much about ceto6 behind cce doors so it is essentially alive and dead right now.
Way forward - who knows!!! The financing review is pointless if that was to account for $15mil govt cash. If that is not there can they vary the idea to come up with cash and go alone.m - Sand patch is their own so if they went alone and it was a success then govt and media (abc mainly) would be eating their shorts. One can hope but I’m basically resigned to fact I’m likely to have lost the bulk of 50k.
CCE Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
