Ok so the sector bubble popped, looks like another grim day for the sector. Trump seems to have moved on. It looks like there will be no government stake or off-take here. I continue to believe that the lofty short and medium term price targets posted here are out of reach.
On the bright side though, our highs on the bubble weren't as high and our lows now aren't as low. We would have to go up 2x to get back to recent highs, some others in the sector would need over 3x.
Mark did well on the run-up to secure most of the equity financing, so at least the bubble did us some good. A lot of good actually. If exim comes through, this will be a good long-term investment but not necessarily a good short-term lottery winner.
I don't think blockbuster news between now and December is likely, so Mark might not be addressing the adoring crowd he expected at the Town Hall. I hope the in-person attendees pose some difficult questions regarding honest timelines, hold ups in negotiations for off takes, and what the process for combining three Banks for the debt portion of financing looks like.
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