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COZ 7.6¢

Not a lot for a suspension

  1. Amused observer

    10,398 Posts.
    62
    Reading through the announcement and cutting out the "noise" about gunna do this and gunna do that in regards Legune Station it is disappointing on a number of fronts.
    1. It could have be done under a standard Trading Halt, this is a bit overly dramatic.
    2. It will be a new cost burden on existing revenue operations and could have been done differently.
    3. It actually reduces the saleability of Legune Station as it tethers a potential buyer to this "access right" for a 3 year period. This exposes both COZ and the new buyer.
    4. It runs the risk of defocussing on consolidating the Exmouth and Qld operations and improving operational and financial performance.
    5. Don't confuse the PSD project with this announcement, this is a mere 3 year feasibility exercise on lands they have secured an access agreement to.

    Why do small emerging companies do this, they get themselves into good positions and then get wobbly knees and make silly decisions that have long term impacts. Worse still they do this every-time, they report to the market about the "we gonna take on the world" sort of announcements as they seem to get all excited and pee themselves. This is the second one out of four early incubator potentials that has done this in the last 12 months, such a shame. :(

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