What I'm struggling to grasp is why they didn't proceed with Big Springs if they had all the pieces in place and was presented to us all as economically viable and set to proceed? Including a toll agreement that worked according to the presentations. (Prior to the negotiations to improve the price because of their so called increased volumes)
If they needed extra capital to pay for a stripping of overburden (or any other non announcement costs) then the time to raise extra cash was when the SP was in the higher teens.
There is a lot more to this outcome than meets the eye. If we don't have the answers then it means we haven't been notified. If we haven't been notified then we haven't had full disclosure. If we haven't had full disclosure then there surely must be an element of culpability.
How can shareholders make any rational financial decisions when we don't have the information that drive management to make such sudden and seemingly disastrous decisions?
AWV Price at posting:
2.0¢ Sentiment: None Disclosure: Held
