Ann: McPhillamys Achieves Major Approvals Milestone, page-23

Don't get me wrong, this is a very positive bit of news and I hope it will happen now.

If you go back to 8 September 2020 release about McP, when my shares were worth a lot, you would never have imagined what has happened. [Possible decision first half of 2021!] So experienced investors are skeptical about their team and whether there is full disclosure.

The heading is "Achieves Major Approvals Milestone .. ." that is a positive heading. These words "This will be the last step in the NSW planning approvals process.""... we would be very pleased to see final NSW planning approval in the coming months"are positive. and based on the "pleased", optimistic.I would prefer to make buy-sell decisions based on facts not optimism.

The reason the price has not moved I suspect is, because of the above history and the words "residual costs" and "strict conditions of consent". Clearly, the approve/no approve decision is not a slam dunk. It's a feature of Regis since this new team has been in power, that there is no discussion about what actions the management team is taking to mitigate big risks or the activities to bring the local community on their side. It appears that this one is in the hands of the decision-making group in NSW and Regis is doing nothing.

In 2022, the job is to state neutrally and accurately what the position is including the good aspects and risky aspects and what actions they have taken. A top-class company would have done that.