It's a fantastic idea to update shareholders on operational and financing progress two weeks +/- before the new listing. re doing so is in itself very positive, imo. Afterall, why would they elect to do so without good news?
Of course, the proof will be in how they present the update. They specifically mentioned the five year plan and progress on the financing structure.
The past is the past, and we all pretty much agree that the current share price is mostly attributable to the financing structure, particularly last quarter.
I am sure that the operational update will be very positive; likewise, general progress against the five year plan.
The financing structure is more delicate. I expect they will reiterate the financing needs for capital development through 2013, as in the five year plan. Fair enough, if they change the way it has been done. If not, that segment of the progress report may dominate share price, as it has up until now, tho with less overhang on a percentage basis, presuming FN adds volume.
They have an opportunity to explain in believable terms why shares have been issued in the past regardless of pps. If they say that other options (debt or bond, slower growth, highly unlikely asset sale, private placement) are being actively pursued or prioritized, and that further equity financing is a secondary resort to be pursued only opportunistically (without saying it, meaning > $1.25), we will have everything we could ask for.
And the technical damage is really not that hard to repair.
