After a year of engagement with a Norwegian consortium, Irish listed exploration company Providence Resources has backed out of the deal. Yet again, long-suffering investors in the stock could be more than forgiven for being disappointed in the company. Its share price fell today before recovering most of the lost ground as investors absorbed the news. So just what has happened? And how bad, or good, is this news? The end of SpotOn’s involvement with Providence Resources had been coming since at least February when it began to become clear that its team, while enthusiastic about its prospects, just weren’t…

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