Hmmmm. Well, if you don't think the report was that wide of the mark, then presumably it must align with reality to some extent.
The stock was strongly in uptrend already when the report came out, so whilst it may have helped it along the trend and sentiment were already pretty strong and it (report) cannot take all the credit.
The fact of the matter is, management appears to have a very clear desire to achieve a GSA; without one, they cannot move forward to their next phase of proving up their other tenements (it appears).
I'm not sure the aim was of hitting a particular share price. When all is said and done, when the 20c SP was achieved there was no great CR to raise many millions from shareholders: which might've otherwise accounted for a well orchestrated spruik. (I'm not counting the $2 mil CR... that is so small it barely registers and did not involve shareholders anyway)
The explanation(s) behind why a deal may or may not be done, is beyond my knowledge. However, apart from other complexities, as with any sale, an obvious one could be "price". Any decent asset: gas, real estate, anything, has its value. Whilst we all speculate on "deal" or "no deal", or interest from buyers in assets, or no interest from buyers, it may simply come down to price sought. We know the clearly stated intended plan is to sell the proven reserve asset, (unless you are completely sceptical on the genuineness of this intention) ... But alas, at this point, so far, it may be only a matter of the dollars??? On this point, if it wants to move on, management has the capacity to be fluid in its decision making, moving with the market.
Kip
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