Hello Tony.

You ask, given a “positive” Magpie outcome, can we “overcome” our present predicament? I say, “Yes,” even should Magpie not pan out. There would still be plenty of gas in the tank.

Our assets are of the kind that stay around and don’t vanish. Obviously, the big question is, “How much longer will we be kept waiting?”

As I’ve often said, our share price (for several years) has become disconnected from the underlying realties. It’s important to keep in mind the ramifications of that. Our disconnected share price has taken on a fantasy life all of its own. The trading range, through daily repetition, takes on the appearance of rationality. There seems to be a logic to it. But appearances can be deceptive.

Much of our suffering could have been avoided. The hundreds of millions of shares that we issued through “Blind Pools” was our greatest insanity. However, I don’t anticipate our continuing down that path.

Moreover, eventually (at an undetermined time), the reconnection to dollars and sense will become increasingly unavoidable. For example, in the distant future, we will arrive at a point when our yearly income will exceed our present entire market capitalization. In one way or another (slowly or rapidly) increasing numbers of market participants will become aware of that inescapable future cash flow (well before it actually comes to pass).

Also, long before any of that, it’s more likely than not that a particular event or development will light the fuse (when we least expect it). To mix metaphors, the smallest thing could tip the balance. To mix metaphors, again, when the last tree branch in the river becomes dislodged, there will be no stopping the torrent of flood waters. At that point, there will be no going back in time (even if we wanted to).