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clock Created with Sketch. 08/04/22
11:54
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Originally posted by stemmo:
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My thoughts - a much more measured and factual presentation from JM. Emphasised the baseline nature of the DFS and the conservatism that underpins its numbers. The DFS seems designed to underpromise and overdeliver in order to land funding and prevent dilution. That's a sound business approach (though JM's earlier presentations should have adopted the same strategy). Most questions were answered capably. Some were avoided, particularly about the current China BOA. If more BOAs are secured as promised that won't matter but it is a sticking point.
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I would argue that the post DFS sell-off was greater than it shouldn've been not because of ADN's shareholder base but rather because did not take into account the shareholder base in their communications.
(20min delay)