If not some significant and genuinely positive, commercial revenue announcements from Rowena in the next six months....she needs to go IMO. The Dubbo aspects I am cool with, but the mkts (ergo serious investors) needed to see some real KMP revenues emerging from downstream magnet manufacturers. Its in part why we have fallen from as high as $1.50 to under $0.50 in less than 1 year.
If "KMP was built too early" Rowena has to hold some blame there, as both CEO and prior role as COO. Lets call it what it is...if they stewarded, not really balance sheet capital, but pure shareholder raised capital, into KMP too early, being in the best and privy positions to know realistic customer order timelines, they need to hold their hands up. Its added cash burn when the company continues to survive on shareholder capital alone. They've preached "aligning with sales" then "aligned with customer demand" to now back to "customer validation".
Its understandable investors getting a bit sick of seeing Rowena looking a bit smug in yet another politician/diplomat shoulder rub, whilst not negotiating any contracts that have presented timely revenue and failing to deliver on previous guided and pumped contracts. Her/their KMP guidance to Bell Potter in Feb 2023:
KMP guidance to Bell Potter in Feb 2024 (not only no 5,200 tpa produiction, but lowered to 3,600 tpa:
To now in Feb 2025, no figures whatsoever and lots of potential customer talk again:
"but these are now coming online and making orders - full production will not happen until 2026". This is poor. Put your hand up. Elucidate on failed contract guidance clearly Rowena and what is going on? What the hell precisely is this "full production expected in 2026"? Bovine rear end protrude, is what it is....
We all know the potential of this project, Its why we are invested. This CEO is not only not delivering, but failing to communicate why she and her team have not. Not good enough business execution or business governance on behalf of shareholders. Do your job Board, bring your/our CEO to task.
ASM Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
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