Oh no.. The management have just announced up to a 18 month delay on key milestones!!!
In May's presentation
Management announced to have finance completed Q3 2021 - now its 2H 2022 (a delay of anywhere between 12 and 18 months)
They announced that they would be construction ready Q3 2021 - now its 1H 2022 (a delay potentially of up to a year)
They announced that completion of financing was due Q3 2021 - now its 2H 2022 (a delay of anywhere between 12 and 18 months)
They announced to have first production Q4 2023 - now its 2H 2024 (a delay of anywhere between 12 and 15 months)
WITH NO EXPLANATION!!!
I have raised my concerns before on delays being added but this is a major CF and leads me to believe there are some major problems that we don't know about and they have put this out under a "rosy project update" on nothing more than recent news that has just been out.
Ann: Rhyolite Ridge Project Update, page-4
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