RE:RE:Russia launched We'll keep in mind, none of the public Canadian HE companies have produced either.
If you go to Worsley please let us know what you see but I'm guessing that other then their oil operations and their untested horizontal well there isn't much going on. They finished their seismic on the new land they acquired.
At this point they need to secure a credit line and/or a JV partner or go the Avanti Route and have an experienced operator come in and build the plant and pay them the ongoing fee.. Or they do a massive raise (this would ve a failure IMO). A marginal raise wouldn't be the end of the world if they also got the mentioned above.
If they don't procure any of the mentioned above by the end of the year at the very latest then your "Smoke and mirrors" theory might have merit.
Personally I am still bullish medium to long term.