We knew about the resource consent:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11115186
So all this announcement really confirms is that construction will commence, although they don't specify a date...
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We knew about the resource consent:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11115186
So all this announcement really confirms is that construction will commence, although they don't specify a date...
Unless it signals an increase in the number of units being built per year (ie. an increase in the existing build rate), then it is factored into the price already - it doesn't really matter where the new units are, as long as they are building a certain amount. From memory, they are targeting over 300 units per year.
Could break that 3.25 resistance today.
The Karaka construction announcement is good news. A successful appeal to approve the Hobsonville site would be even better news though. That would be an increase on number of units, as CJ points out.
$3.27. Highest ever? I don't see it going ballistic but maybe we will settle higher today?
My FA provides me with SUM as being quite undervalued at present, MET slightly overvalued now following recent gains, and RYM well overvalued as it has been for some time.
I would not be at all surprised to see some rotation within the sector now, from RYM into SUM, now the quadrant overhang is gone.
Did we know about this already?
https://www.nzx.com/companies/SUM/announcements/243339
I've been busy with the ups of PEB and down of CNU. :-S