Bp and Ub et al, I called the company today and was told I would...

Bp and Ub et al,

I called the company today and was told I would get a phone call back. Which I did.

The co secretary Mark Clements called me and we had a good chat. Obviously my main query was regarding finance and how that was progressing.

I made it clear that I understood he was bound by ASIC rules and as such he couldn’t disclose , and nor was I seeking any sensitive information , so understandably our chat was very general.

He indicated that the company was still working through the process and they were hopeful of achieving finance in line with the most recent company announcements. Ie hopefully soon ( ish )

It seems they had a provider well progressed, but in the end, they didn’t pursue that option.

We also discussed the delays in timelines over the past 12 months and he said that it was almost impossible to engage or continue any process with the govt , in the period leading up to, and for a period after, the govt elections. Hence some delays

I asked about the prospect of share consolidation as previously outlined by the company and he suggested that if everything goes according to plan, they still see that being on the cards.

He also re affirmed that management still have a significant investment of their own funds, still in the game.


So, very general, however Mr Clements was very obliging with his time, and was happy to have the conversation. I was impressed.

So - for what it’s worth, I will be continue to hold. My feeling is still , that patience will be rewarded .

Good luck to all and DYOR