Leaky boat or sinking ship?Shareholders are treating this like its permit denial while it is nothing of the sort (at least not yet). It's a bureaucratic recommendation, with presumably, additional requirements needed ffor approval.
I don't blame people for bailing out, because it is the precautionary thing to do until the dust settles and the way forward becomes clearer. At that point, of course, you either buy back in - after the knife hits the floor - or take a pass.
In the meantime, anybody holding has to decide for themselves if this is a leaky boat (oversold on a kneejerk reaction) or a sinking ship (an indication that the government is seeking a way to permanantly scuttle this project).
Unless I'm convinced otherwise, I'll continue to bet on the former, bearing in mind that I made a lot of money when something similar happened to PVG with the Strathcona head fake. But this is strong heads up that NO unpermitted project is a slam dunk in times of government and economic uncertainty, even in a supposedly "safe" jurisdiction.
Let's just hope already permitted projects aren't next on the list.