Iceman...I agree RCY is in a bit of mess, but is early days. Do you really believe that administrators will be apppointed just because traffic numbers are lower than expected? Remember the ramp up period is 18 months and their cash reserves approx $200 million. The only shortcoming of the Clem7 tunnel is the initial reluctance of motorists to use the tunnel. You may want to consider that the tunnel was completed well ahead of schedule. Consider the effort, time and money gone into this project, then you may find it "absurd" to believe that administrators could be called in within 3 months, had you said 18 months, I wouldn't have bothered to respond to your post. Did you read last investor update?
My personal feeling is that if the public will not use the tunnel, projects like Clem7 will not proceed because private equity will not invest, leaving the government to either endure the complaints about the chronic traffic, finance future projects or force the use of the Clem7 tunnel....what will it be?
thanks for replying to my post though :)
RCY Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
