Ann: Retraction of Production Targets and Forecast Information, page-9

So why state this in the DFS annmnt unless it wasnt the case ?

https://hotcopper.com.au/threads/ann-definitive-feasibility-study-update-completed.7472461/

"DFS updated outputs have been extensively reviewed by Yantai JinPeng Mining
Machinery Co. Ltd (Jinpeng) and Verum Projects and Engineering."

They also give a breakdown of all the new DFS costings.
Would they simply make these up to make the DFS look better ?

Dont forget Yantai/Jinpeng have just completed Nipepe which is supposedly almost a mirror image of Ancuabe.

Im wondering if they have put the cart before the horse by not anncing that the FEED process
had been completed first prior to the final DFS, and the findings were such that the DFS numbers came in better than the interim DFS numbers.

The FEED process was to be completed by the end of the last Qtr.

Now Im not making excuses for TON management, as yes it appears pretty sloppy if the above is the case. But why would they go shouting to the roof tops that the DFS numbers were that much better if they wernt ?

Im also hard pressed to think that the head of the board was not privy to passing his eyes over the annmnt prior to it being released.

Not that the DFS annnt had any bearing on what happened in the market as it hardly had any effect on the sp at all anyway imo.

Interesting retraction annmnt in any case.

https://hotcopper.com.au/threads/ann-retraction-of-production-targets-and-forecast-information.7481347/

Following discussions with ASX, the Company retracts the information contained in that release with regard to capital cost savings and an increased graphite production rate These statements are not consistent with ASX Listing Rules 5.16 and 5.17 as the Company does not have a reasonable basis for giving revised production targets AT THIS TIME.

Gr.