Thanks for the thoughtful posts Suni and JL.
Suni, unfortunately not sticking to timelines has been a consistent theme. Understand completely, sometimes certain things are out of control of management.
But we’re missing targets by “quarters”, targets set only back in July.
Not only does this erode shareholder confidence, it erodes the shareprice AND it ultimately increases dilution
as they need to keep funding the project and staff costs.
I can’t let them off on this one. I fully agree that they’ve kicked some absolutely wonderful goals, to get us to where we currently are…. And well done to the team for this.
I wouldn’t have spent 7 odd years building a position, if I didn’t believe the story.
But at some point after multiple missed targets, someone at the company needed to take a conservative approach in setting timelines/goals, with the intention of under promising and over delivering.
JL, that would be a scary scenario if it played out. It would be an epic failure by management to essentially giveaway half the company JUST to get pre FID funding.
Particularly with such Favourable global conditions.
Nevermind the shareholder approval that would likely be required to issue that many shares as a % of the current SOI (I would think even CNE would question such a proposal).
Based on the recent interview with Justyn, his reputation would probably cop a battering. You can’t ooze that confidence, then raise $ to ensure “the best deal for shareholders” … then proceed to do such a revolting raise as the SP continued to slide.
We’ll find out soon enough. I am optimistic, but that clock is ticking very loudly mate.
Have a great weekend all !
Cheyne
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