RE:Not so fastFirst, I got greedy on this one and got burned. I was sitting on a tidy profit before the meeting and thought about selling and waiting to see what happened. I went ahead thinking I didn't want to miss a big gain and now regret it. I pulled the ripcord this morning and salvaged at least some money to put into a different stock I like better. So take this for what its worth knowing I have moved on.
BUT, if a person wanted to stick it out I do see a few glimmers of hope on this one yet.
1. The chariman of the Planning Committee said a couple times during the two day meeting to the crowd that their decision is only a recommendation and not the final say. He seem to want to make that point very clear to what was a majority negative crowd.
2. I see this 5-0 verdict as a play to pry more out of the company. Most notably on the water issue and the surety bond (or lack thereof). that really seemed to be the main sticking point with the planning committee. If the company ponies up the $14 million surety bond to cover any future water issues it could be enoungh to get the B.O.S approval.
3. There have already got a tentative date of "no sooner than August" for that B.O.S. meeting which will be the final say. The project is not dead yet, but it is on life support. The bond issue gets solved it MIGHT be enough.
4. GLTA who take that shot. I am out and moved on.