Ann: Annual Report to Shareholders, page-5

All too embarrassed to admit it, or too sheet scared making an honest post lest it triggers more stop losses from this steaming pile of excrement.... myself included. Started writing the following as first section of a longer post ripping the Accounts and various issues a new one, but thought better of it while contemplating my losses and stupid addictive gambling habits. Been slamming my dck in a door all morning to the mantra of "don't catch falling knives dropped by lying mofo's"... hoping the pain will make the lesson stick finally.

Chairman's effort to rally holders...

"At the time of writing (September), we have just achieved another key milestone (what exactly? throw us bone, please) in the ore commissioning process at the Mineral Separation Plant (which actually started ~6 months ago). While this process is not complete, we are now into the phase of improving mineral recoveries and refining product specifications (tautology much, you just said MSP was in the commissioning process) to ensure we maximise the prices we realise for our products, while in parallel continuing to ramp up production (any update on WCP progress, the disaster requiring a CR ... just a hint maybe?)"...

"Our achievements have ensured we are well-placed to capitalise on our opportunities."...come Didi, that's utter BS, your achievements were a horrendous mixture of operational and strategic failures, leading to a hugely dilutive CR to buy time and bail out the sinking ship. Seriously concerned they didn;t buy enough time...

What a cluster fk of epic proportions (we sort of knew that), what a frightful set of books, what BS leaving out Fungoni $15M as "event subsequent to June 30" instead of a Liability ANYWHERE in the Accounts, when it was so obviously an event known about before June 30 The debt's piling up end of June $65M Current Liabilities (excluding $15M Fungoni), suspicious games pushing out $56M of Nordic Bonds beyond the final repayment dtae??. Huge $12M Corp Admin costs, going up to $15M with new hires and inflation + Explor'n, Cost of Sales running $55M (almost zero D&A) even after cost shifting to 'Mine Development activities' you know they done, the lack of any positive production update after that terrifying late Aug Ilmenite Shipment release... the sum of my fears confirmed by a share price collapse shortly before Ann Rep gets released and the stock essentially goes NO BID for a 1.2B SOI stock

I want a time machine, Whaaaaa, under desk in the foetal position, sucking my thumb sooking like a baby, triggered contemplating potential toys and vices flushed into $1.3M dollar man's BS fibs after fk'ing up almost everything on a simple deposit and strategic game plan, while us idiots thought bad news priced by then and buying the Noosa Presso ramp and next couple of days for a 22.5c avg... but NOOOO, down 30% with a bullet and NO confidence shuffling accounting chairs on the Titanic will float this boat in time.

Better hope they can sell Tanz assets for cash and/or to stop bleeding at over there (Tajari the next PAP rehoming/compensation shoe to drop STA can't afford?) while they try and get Coburn on track and sufficiently cash positive before another CR is required. I'll be back late October when they see fit to let the mushrooms know why insiders kept selling the price down or why it bottomed and rebounded strongly.

Fingers crossed for everyone it's the latter.... GLTA Mushrooms