Ya, nah... ya, nah - I was not impressed with either the quarterly or the phone in. It was more fluff, as usual. I am asking myself daily why I am in this stock, and one answer - quality of the asset.
But that might give BoD and management enough reason to stall for as long as possible. Because at the pace they are going, there is ZERO stress. You will notice that Andy and Richard are directors in multiple entities and mining companies; they surely must forget about the chewing-gum-LPI stuck underneath their soles. What. Value. Are. They. Adding? Since their arrival, have the sped up the development of LPI? Since their arrival, have they increase the PR of this company? Since their arrival, have they acted in the interest of shareholders? Since their arrival, have they secured finance? Since their arrival, have they secured offtakes? We all know the answer to those questions.
For the last four years, we have been saying "the next five months will be a watershed moment for the company". But has it ever been? We are still slightly above IPO level.
So, they have ZERO stress at the pace they are going, and there is ZERO visible accountability. The only thing that will bring accountability is Section 249D - tick tock, 157 days to go for 14,200,000 to launch that process.
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