RE:RE:RE:PAPUA PM: Delayed securing finance not canceled My view was and still is pretty simple.
The Canadian entity and its assets would act as a catalyst to list Team Snubbing or would be sold off to a larger player. I am not sure their is too much of a rationale for another small cap rental company on the tsx and history hasn't been too kind to the others (Enteprise Group, Strad, Cordy certainly come to mind). There are a bunch of small pieces that all have value in the Canadian business unit but I'm not sure if its long term prospects and aspirations align with a public listing requirement.
Papua New Guinea likely exists as a separate dual listed entity in Canada and Austrialia. Perhaps in time it just gets swallowed up by an Australian service provider looking for a path into PNG. The possiblity in front of PNG goes far beyond PNG LNG so the PNG business could be worth quite a bit of money to someone down the road if they are able to grow the business profitably.
This time last year I was thinking that 2023 would gain some traction but I am learning to be a bit more patient with time. Charlie Munger always said the secret to life is lower expectations so I am still working on that!
LR