I was particularly impressed how the ADN management team handled what was possibly the worst decision by NBSB that shareholders wanted to hear. However full marks to the way ADN senior management handled the whole presentation from Mick's opening remarks through to Bob's no BS contribution and then the new CEO's contribution. It was very professionally handled and instilled confidence in the company's future.
Other areas that were handled very well were:
* the progression of the project is going very well and they are confident of getting into production That was music to my ears!!
* funding seems to be sorted subject to good financial metrics and enduring customer contracts
* customer interest/demand for the product remains very strong
* the fact that Bob is leaving for personal reasons and will be available to help if required. He will also be located conveniently in Europe. (I hope he maintains his shareholding in ADN.)
* the subject of freight logistic solutions is NOT a problem - big relief as freight may be the single largest cost of the project
Chrs W2
(20min delay)