Yes, you read it here first, in April!
;)
Printable View
Let me play devil's advocate, a role that's not unfamiliar to me LOL....I wonder if the teenager learned anything from its multi year Boulcott site fiasco and made the offer subject to due diligence and consenting approval...knowing Mr "Gung Ho's" approach at SUM it wouldn't surprise me if they've bitten themselves off another problem too big to chew in terms of resource consenting and get left holding the baby again. Chequered track record and a PE of 30...good luck to holders, I think you'll need it. I note its a very small site in terms of acreage so they'll need an intensive development to get anything approaching any reasonable economy of scale...intensive development's are a real can of worms in terms of consenting. Pretty litigious bunch of neighbours in that neck of the woods too.
Thats good news today
Greater exposure in richer parts of auckland good as well
Hope they name it after illuminarys like Roger
Good news keeps coming from this (relatively) undervalued co.
Absolutely and some would be brave enough to suggest "SUM" of SUM's shareholders too LOL. I must say I really like the way MET manages their land acquisitions when making a far bigger land acquisition like the one at Red Beach recently they make it crystal clear the purchase is subject to due diligence and resource consent approval so there's no possibility of them ending up in a multi year Boulcott consenting fiasco. Prudent management v Gung Ho trust us we know what we are doing...too early for a Tui ?
I guess SUM fell into this category last year (see post 1737) so things change fast. Maybe it's back on track... time will tell I guess.