5 out of 12 trucks is not "a new mining fleet" it is a part of a fleet and anyone would only call a part of the fleet "a new fleet" if they were trying to hide something.
By FFX's own admittance they knew the sanctions were having a negative effect on operations, which is why they ... quoting ... "
put in place various strategies to mitigate the effect of such delays"
Not only did they know in the past, but the current people in charge are sticking with the old lie.
Remember the company went out of it's way to say the sanctions were having no effect, so any responsible management should have put out a statement about how the sanctions were having an effect as soon as they were known. In the same announcement would be the steps taken to mitigate the effect of sanctions..
The part about thinking the sanctions were only going to be short term, was nothing but wishful thinking or just plain BS. It was obvious that with both sides digging in their heels the sanctions would be ongoing for months.
Plus even if they did think they were only going to be a short term effect, they are clearly admitting again that they knew the sanctions were having an effect on operations. You can't have it both ways, either the sanctions were having no effect, in which case it wouldn't have mattered if they continued for years, or they were having an effect, so should have been announced by the company.
So now we have the new acting MD and new acting chairman spinning exactly the same BS we have had for months, instead of moving forwards. Given the BS in these aware letter responses, why should anyone, including those we are in discussions with in regard to funding, trust anything they say?
Notice what they are still not telling us the owners? If we were expecting a great amount of Gold production in the last 2 weeks of June that didn't happen, then surely it did happen during July, yet they have been silent on what's been produced in July. Surely this sudden increase in Gold production would have been welcomed by all as great news, and made gaining funding much easier. Of course perhaps it didn't happen...
They use the term 'funding' in what's needed, yet have failed to let the owners know exactly where we stand, as in dollars needed to be fully operational, as in both capital and working capital. Nor a word about what form this 'funding' will take. Nor a word about ongoing costs given the huge blowout in operating costs last 2 quarters.
Given the close scrutiny of the ASX, fully warranted IMHO, it is hard to see them letting us trade again any time soon without full disclosure about the situation.
We need a new BOD that can apologise for mistakes made by prior directors, enlighten shareholders to exactly what's going on and needed, and then to move forward providing all the numbers obtained from independent experts, raising, as we seem to need, from a full prospectus.
The sadest aspect of all this is that once directors go down the path of keeping the truth from the market, they usually keep stuffing up, as this mob are doing in their responses to the aware letters, that leads to further suffering by shareholders.
Where is the bang head on wall emoji when we need it!!!
https://media.istockphoto.com/videos/banging-head-against-wall-video-id472667369
