A lot of shareholders are being influenced into voting no and are easily influenced because there's so much anger (rightly so) and it's a tricky one because there isn't any pathway laid out by the BOD so how can we trust them.
I'm not sure what pathway you expect them to lay out at this point given they are doing a review , that requires time if the path is going to change. We have already been given guidance for FY24 around production and sales. We are expecting the MOBLAN concentrator DFS this month which really just tells us how much expenditure we have ahead of us. So basically the path is still the same but circumstances have changed which may lead to changes.
The same people who are bitching about the so called silence are the same ones who did exactly the same with Brett and will do the same with any subsequent administration .
At this point in time they are still in the process of decisions around the NAL refinery and the MOBLAN concentrator , the main change in circumstances is the plant performance and the concentrate price which have considerable implications around timing and financing , that won't be resolved overnight.
The agitators are really just a bunch of anonymous posters who can tell a good story that fits into their own particular agenda and can create an attention grabbing thread in full caps, but that certainly doesn't mean they are right ( or wrong) unfortunately there are endless sheep around here that will blindly follow them without even considering the alternatives or consequences.
if one runs the numbers using current and/ or lower concentrate prices then a MC of $900m looks quite good IMO and there is no guarantee it would be any different under past or upcoming administration, its earnings which dictates the shareprice of a producer and they have been reduced considerably.
In the end we are all guessing where things go next and that includes the CEO's , they can't predict the future any more than we can or plan around such Volotility, what appears a good plan in boom times is not necessarily good in bust times...
Cheers Whisky
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