I mentioned this in an earlier post but I think it's worth...

I mentioned this in an earlier post but I think it's worth repeating.

It is well documented that despite having some outstanding results in 2013 that external factors, such as TAM, ASX300 and POG have all played a part in the current performance of the company, despite the stellar results coming from the trial mining.

Given those external factors it is vitally important for management to maintain momentum with respect to EVERYTHING, that is within their control. Unfortunately, this has not happened.

The delay in achieving a ML due to not having the EIS in order has completely undermined the momentum and timing of the companies milestones. Now I am the first to admit that whilst in the medium term this 2-3 month delay will not be a huge issue for the company, it is fair to say that in the short term it will be.

Imagine going into Christmas, trial mining complete, EIS inspection period also over (assuming they met their timeline) and awaiting the imminent ML announcement. The momentum and market perception would be worlds apart from what it is at present.

In saying all of that, I am not overly concerned about the delay as I believe that 2014 will surely see our company transform into a very different looking entity.

My biggest concern is the terrible lack of communication with respect to the EIS delay. In itself it may not seem like a big issue, but when management state as late as November 20th that a ML is expected in late 2013 - early 2014, that can only be seen as at best a poor oversight and at worse, misleading.

At the time of the MD's address (20/11/13) DH must have known that the EIS review period would be well into 2014 and therefor a ML could not possibly be granted late 2013.

So, IMO management have taken a huge hit with respect to credibility of timing and transparency. Clearly with respect to actual results achieved they are well ahead of the game and have my due respect for this.

As I mentioned in an earlier post, I personally am giving them the benefit of the doubt here with respect to the terrible oversight and I sincerely hope that this does not become a trend. The ASX is littered with MD's who either do not have their finger on the pulse or who do not see a need for honest, timely and precise communication with the market.

DH has an opportunity to stand ahead of the market in this respect. Lets hope that we see him do precisely that in 2014.