PLS 5.69% $3.16 pilbara minerals limited

Pilgangoora, page-58

  1. 447 Posts.
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    "MD passed on information to the best of his knowledge at the time and likely reiterated what he was told.
    Anyone that thinks a mining permit is something simple is sadly mistaken.
    He has kept us informed better than any other management I know.
    It is totally unfair to point the finger for something that he has no ultimate control over."

    You are missing a few points here.
    1/. He does have some control over the process - he is MD of a company that was jointly responsible for lodging said permit application in the first place. The initial permit application had its design of mine rejected, and there was a very long delay whilst this was disputed by the jv - of which, once again, NB is key part of. Finally, the jv has agreed to accept the dept's ruling, even thought they disagreed with it - you can't fight City Hall, and all that. One could reasonably argue the months fighting City Hall might have been wasted. Again, as NB was a key part of that process, one could argue he should take at least some responsibility for this outcome.
    2/. The facts are that the permit, which is still to be approved, is as of today approx 9 months overdue vs NB's original timeline, and this is after numerous adjustments to that timeline. As previously stated, one could argue that NB, having been delayed / frustrated by the Dept several times, should have built in a more conservative timeline rather than being continually embarrassed when his expectations fail to be met.

    I understand that TT is not the main prize in the PLS story, and overall it's all about the Lithium.
    But rather than simply accept the rockstar guru status that some appear hell bent on bestowing on NB, and therefore none of the permit delays have anything to do with our teflon demi-god MD, I think he also needs to wear the appropriate responsibility for things that were under his control.
 
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