Well the traders bought the hell out of DHR and Rawson today. Will be crushed on Monday imo. So the traders are just like the holders at this point.
No one was expecting to get nothing. Nada, zippo, zilch, sweet fa. Royally rodgered the lot of us.
But Im thinking, and what Im thinking goes like this.
Judiciary wants to seem impartial. i.e cannot leave the anvil over the labor party, as this could been seen as a political non decision.
Judiciary cant payout LKO just yet. Because if they payout 25-30 mill, then it seems like an admission, in which case why not payout 140 mill, or 2 billion??.....or the actual amount we are entitled to here after a comprehensive review is undertaken. I think the 2 billion figure we were chasing was always going to be up for dispute. Because possibly gas prices were marginal when Lakes was issued the moratorium in the first place. (just a basic assumption on gas prices -not fact checked)
So they cant offer a small payout because that says to the public that this has been dealt with case closed. They cant offer a big payout because if the libs win and overturn the moratorium then this surely has to be calculated in any payment.
They know we will appeal. And we should.
They need the full picture in front of them to make a reasonable and fair payout.
Or the whole thing is corrupt and the judiciary is just as inept as the vic labor party. Im not ruling it out.
The problem with my thesis or perhaps just the situation generally is that the judiciary is relying now totally on the victorian voter in order to do the right thing. We need to be able to appeal before the election and that appeal needs to be accepted by the higher court.
Because the average voter has a household debt to GDP ratio of 120%. 27% of households are only one mortgage payment away from serious risk of foreclosure in the event of job losses or rising interest rates. And we know they are coming. Will these people make the right decision??
I dont know. The appeals court needs to accept LKO appeal before the election imo.
The six month wait was in order that Australia doesnt look on a par with Portugal as an investment destination.
The liberals will have an absolute field day with this and will be greatly encouraged by todays decision. Some unity and some talk directed straight at the publics hip pocket
LKO Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
(20min delay)
