The devil is in the detail- boasting about PCAM, not MHP, samples being used to pursue finance.
Comes off as ’We are contracted to supply MHP in an offtake we say will bring funding. We are so confident that will work that we are spending company money on producing PCAM samples, which are obviously being sent to parties other than LG.’
It almost comes off as a joke- ‘$0 signals commitment’ and ‘we believe in the MHP offtake so much that we are still spending time and money on PCAM samples’.
Consider this- there is probably more effort on producing samples than there is on drilling etc at Sconi…. which to me translates as ‘the project can’t get funding as it is and we can’t see any chance of improving it’.
Over 50% of costs being wages more than once now says that very clearly to me.
My roadmap to salvation is simple. Sell/spin off everything, including Sconi. After that either head to WA or follow QPM and become an importer and processor of New Cal ore. Show BB and the others the door.
AUZ Price at posting:
19.0¢ Sentiment: None Disclosure: Not Held
(20min delay)