CXO 1.09% 9.3¢ core lithium ltd

Banter and general comments, page-23278

  1. 1,972 Posts.
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    There are many who have been disappointed with today's announcement, to the extent of blaming management for keeping shareholders in the dark. Today's announcement will give the manipulators more fire power to force the prices down and instil fear in weak holders to sell.
    Weather conditions are matters which man has no control off. I feel sorry for some farmers in Queensland and NSW who had their crops destroyed and have to suffer heavy losses of which some may be driven to bankruptcy, unless they receive aid from Governments.
    The more than average rainfall has delayed production and shipments. This will cause a change in plans and management has to reassess the situation and come up with new forecasts.I am sure both management and shareholders were looking to see a couple of shipments in the last quarter of this financial year and a decent balance sheet. I am also sure that management has given much thought to the timing of the announcement and decided to release it today with some information on expected shipments, provided the weather improves.
    We can now expect one shipment this quarter and then further shipments in the next financial year onwards. At this stage we do not know what the volume of shipments is going be like.
    We know that the plant is completed and from a production point of view all is positive. I am sure that both management and the production teams will be working their butts out to play catchup.
    We are here for the long term and perhaps six months down the track we will be rewarded with a realistic SP and further down the track even dividends.
    Patience is needed, reflect on the fundamentals and even top up if you want to. This is not advise but my opinion.
 
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