2C, Thanks for your respond.
I realize that when management talks about "on time and on budget" they refer to the initial construction cost which may or may not include the contingency component.
From the investment point of you the important number is the date of achieving the projected production capacity and final capital cost.
We all know that the POD1 total capital cost is approaching $500 million with the production at 7500bbl/d(see the latest presentation). This number is much higher if you add the interest on the loan.
This is 80% above the initial budget and 2 years behind the schedule of producing bitumen at design capacity.
Monday morning opening did not disappoint CLL shareholders. It is very interesting how the European Central Banks effect CLL SP by buying their own sovereign bonds using freshly printed money. One could ask the question? Can this be call the manipulation or speculation?
Or, manipulation and speculation term apply only to individual and institutional investors when they try to time the market or bet on stocks direction? Or maybe we are all hypocrites?
Tonight action on Futures Market are indicating lower opening for Tuesday morning. The $Euro rally did not last very long. It closed at the low of the day.