I did try and help with the proceedings, however they did not accept my reasoning to become a party to the proceedings. Considering I am in the top 30 shareholders, a mining engineer, with cost / time / risk specialty in major project infrastructure, I am unsure why they did not let me, more to the point they did not respond to me since the 30th of November. Anyways, I am hopeful that those who are engaged in the "review" manage to get full cashflows, including C1, C2 and C3 costs, along with repayments schedules and expected outflows. I suspect when these are provided that there will be a different picture, unless there is some obscure debt covenant that we are unaware of.
I am still flummoxed (well not really when I think about it) as to why they continue to obsfucate the company's position. Including the payments to AUQ for their mining services (or at least the deferral amount and potential compensation associated with the deferral i.e., interest).
I am also interested if there are any lawyers out there who know if there is any avenue, if it was found to be an unnecessary and unwarranted cap raising, and if the next one is at a lower price, we can seek recompense from the directors due to their actions.
I wonder if they will bother to update us on the interim Chinese units that are supposed to be operational by the end of February 2025. Sure these would have to be part paid for, and on a ship by now, given they are going to take at least 6 weeks to install and commission to reach the planned 85%. I suspect a delay to these units as these current directors have a history of being later than planned announcements, and disclosing last minute when issues arise.
Good luck to all. May Xmas bring surprises to us all. Stay safe and enjoy the time with your friends and family and others close to you.
AIMHO, GLTA
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