Nope. My comments at the time re: Lochinvar was that if Gary could improve the outlook at Lochinvar and gain more interest from potential JV partners or buyers by lowering the costs involved in bringing the project to production then he should go ahead with more drilling. Especially as it was indicated in one announcement that this could help due to advice he had received from such partners. It is still a great project, but as I have mentioned a number of times, coal at the moment is just a little on the nose for new projects... Coking Coal being dragged into the issue undeservedly. This will not last imo.
Now though, as Redmoor results came through it became very clear that all funds and focus should move directly to Redmoor. This is not poor management, it is Gary's humble nature that allows him to make a decision like this to hold back on Lochinvar, rather than be a stubborn know it all that cant see where the potential is.
Anyway, that is all it is, holding back for a bit. Lochinvar isn't going anywhere and potential partners are still being sort. We can revisit it later, no issues.
As for Redmoor, we are looking at a project that is now moving towards production. Lets see how Gary is viewed if he pulls this all off. Man there will be a number of posters here that will eat their words if he does, lol. Well... if they ever show up again that is... which they never do.
NAE Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
(20min delay)
