I would like to ask a question about a couple of the comments I've read in the past.
The first comment was in the Latrobe Valley Express article here, published on 4/2/16. There is a line in the article stating, "Construction is expected to begin mid-year at India's largest brown coal mine."
While this isn't a direct quote in the article, there are quotes by Glenn Fozard, so I take it that this must have been mentioned during the interview at some stage.
The next comment was from Ashley Moore, 15/3/16 at the ASX CEO Sessions presentation.
He says, "So in 12 month’s time, I’d like to see us knee-deep in concrete and steel, setting up the plant in India."
So as an investor, it was extremely exciting to hear this from management, knowing that construction was just around the corner. But looking back at what we know now, I have a few concerns.
All of the Indian Red tape delays aside, how can such comments be made when the Techno Economic Feasibility study hadn't even begun yet? From what I recall, and correct me if I'm wrong, but the TEF wasn't even mentioned until the TPA signing.
Of even more concern, the Matmor Basic Design package wasn't even completed until a whole 2 years (released 23/3/18) after these comments were made. Working in the construction industry myself, I'd find it a little difficult to start building something without a plan.
I'm sure there is more, but they're the two I could remember off the top of my head.
Just realised that this isn't really a question of sorts, but I would like to get a your take on it please. Just like to know how such comments could be made when things clearly weren't ready yet. Thanks
ECT Price at posting:
1.3¢ Sentiment: None Disclosure: Held
