I read Adroits presentation.
Pretty easy to pick apart if you use your brain and some simple maths.
Section 1
Directors salary
3.19M over 12 years
Thats well under 100G per year per Director
My guess is PFS will show currently JORCed ore has NPV of $300-600M.
Paying directors 3.19M to get 300+M no brainer. Id say money well spent.
Section 2.
(a) undertake a detailed strategic review of the Byro Project with a focus on near term production;
They just want the DSO. AHN and consultants already looked at DSO ore and figures didnt stack up.
(b) focus on cash flow without dilution;
Sell DSO make 0.001c per share. Waste of shareholders time.
(c) balancing capital costs ratios; and
How they going to do that? Wishful thinking?
(d) review surrounding mining assets to increase total tons to the resource portfolio of Athena.
Oh you dont know whats there yet? Um you didnt read AHNs announcements over last 10 years? Then you probably dont know adding tonnage to JORCed resource costs millions in drilling and lab cost and modelling.
Like I said amateur's.
Find it laughable that anyone is gullible enough to think these guys are for real. They bash the directors on the one hand then talk up the project on the other.
If the directors have done such a bad job why do they want to take over the project?
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