an open letter to the board

It’s not good enough for us to have to wait until at least July until we find out the results of the metallurgy studies regarding the copper / zinc separation issues. This is the most important issue Dart faces, you mightn’t think so but mark my words, if the metallurgy issue isn’t resolved positively, with a supporting unambigious statement in the ann, then the SP will be sold off to probably 1.0 cents or lower. It’s a long way back from there, and Dart would suddenly find itself very vulnerable. We would miss out on exploiting the elephant country.

I do have a suggestion for the management to consider. You have said you want to win shareholders trust back. It’s easy. Keep us informed. Educate us (you’re allowed to under ASX rules) about this metallurgy issue, provide comparisons how other moly explorers / producers have tackled this type of issue, tell us what’s going on. Stop the motherhood, feel good statements and give us the facts, tell us what you know! To invest in Dart you either have to be a geologist or know someone who knows what you’re sitting on, and what the potential is. Dart shareholders are either experts in geology or gamblers, there’s no middle ground.

Given the way things unfolded last year and early this year with management and the board, I do have serious concerns about the level of commitment to ensure processes were in place to gather core samples for testing, that identifies the area the samples were taken from, they’re not contaminated, and they’re being assessed by a credible organisation. I have a recurring nightmare that the samples were gathered indiscriminately, chucked in a Hessian bag and shipped off to a lab somewhere in Uzbekistan!

You have no obligation to keep us informed, but you have stated a few times you’d like to win shareholders trust back. That implies that you’re aware the previous board and management lost our trust. Kudos to the previous management however for announcing their metallurgy results in June 2012 to validate the project, very few companies do this. Bells ringing?! So far, you’ve not actually reached the standards of communication that the previous board and management achieved, so motherhood statements about getting back the trust of shareholders isn’t backed up with anything.

You now have a chance to do something that not too many companies do, and that’s keep us informed, and maybe educate us a little so that we’re not blinded by statements that only a geologist can fully understand. A new board, a new start, or the same old, same old? C’mon guys, lets get the register full of committed Dart investors.