All this previous talk from the positive long termers about negotiations with FMG or Apache Energy, how about we get real.
IF there was any real progress on negotiations with the above mentioned there would be : -
1. An increase in trading volume. There is always some who know before any announcement. The SP doesn't always immediately rise but volume does as accumulation occurs. This is not happening.
2. The company would give a trading update. A partnership with FMG or Apache Energy would be a company defining announcement. IF progress was being made on this front the company is obliged to keep the market informed under the ASX listing rules. There has been no trading update.
I know some of the long termers are very positive but in my mind they are just saving face when they say the time that has passed or how long they have held doesn't matter.
Of course in the real world timing of investments is one of the most important elements.
When they say time doesn't matter when they have had their money tied up for years slowly losing value while others are making money with their investments I would say they are living in a fools paradise.
OBL Price at posting:
1.0¢ Sentiment: None Disclosure: Held
