Ann: Strandline Completes $33.8M Institutional Placement, page-16

agreed.

for all the fanfare, debate, investor presentations, quarterly reports, equity raising documentation, my take is retail punters are deliberately still in the dark. at no stage in any documentation or commentary have I seen a commitment to a commercial rectification on or before some amazing date of whatever underlying engineering problem has frustrated Coburn thus far.

documentation is still awash with same platitudes of 'advancing', 'restoration', 'managing', 'repairing' blah blah blah. nothing new or definitive. moreover, I'm not sure I have read anything published by the company that suggests (or even infers which is STA's communication of choice) the underlying problem is not [cornerstone] geological.

and I think that fact the current trading price is below the most recent issue suggests maybe the broader market too is concerned that the fundamental assumptions sold by STA underpinning business case are irreparably materially flawed. maybe the real problem moves away from an engineering objective (which is basically the sales pitch underpinning the recent equity raise) to a fundamental project-life material commercial deterioration in the project. so sad.

STA like every listed company has very few obligations to report to members. it's sad when you have to take that communication and play it backwards, invert every second word and replace all "A's" with "e's" to figure out what is really happening.

so sad.

have a great day