No this is pretty awful. In April 2022 the production start was forecast to be Q2 2023, Now it will be 6 months later. Slippage of 6 months on a pre-production period of 1 1/2 years is not good. Until recently it was forecast to be November, now a postponement of months, not weeks. I said it before and I will say it again: I do not care much about the management, but like the project.
Anyway, it explains the large cash raise months ago. Management saw this coming long ago. And some in the know cashed in before it became public. Let's hope it is the last time they disappoint.
Ann: Quarterly Activities Report & Cashflow, page-3
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