Dingo, mate, can you please elaborate on your whole belief of everything being suspicious? You're beginning to get the feel of a conspiracy theorist.
How do you know that the costs already haven't been accounted for? PLS loaned 671k to the JV entity for the period. We don't know if these amounts have been spent? As far as Im aware, accounting standards have provisions for the types of 'suspicions' you have. If there was anything material to report subsequent end of quarter that materially affects anything in the report, it needs to be documented. I would say the expectation of a (min 250-300k) expense would be defined as material as it represents up to 50% of projected outflows for the quarter. Will double check this when I get some time, but I would be amazed if the company didn't update their expected expenditure to include this if it hasn't already been accounted for.
Cash burn for the previous quarter was 320k a month according to the cash flow. Not 350k. It was also projected to be over 370k a month.
Nothing has changed since before the quarterly, another material delay significantly increases the chance of a CR in the next quarter.
I will be emailing the company regarding the cost of the tailings lining and to whether or not these amounts have been included anywhere in the quarterly, including the projected expenses. Instead of insinuating that no one has done enough or the right research, maybe this is something you could've done? Or are you worried their answer wont fit in with your conspiracy theories or opinion of their amateurism? If you like I would be happy to email you the answers?
"Research from someone that actually works in the Pilbara and has built 2 major mining plants.... Smoke and Mirrors people..."
Aren't you a Maintenance Planner? Sorry I couldn't resist, you clearly have an opinion of yourself... You're the first maintenance planner Ive ever come across that seems to think their position and location entitles them to a better understanding of the mining industry. Anyone would think you actually made decisions!
Cheers
Utts
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