Here's the November AGM presentation immediately prior to the peak of 40cps.
PowerPoint Presentation (asx.com.au)
No mention of offtakes before Xmas. Rather, 'Strong interest from potential customers .... Offtakes catalyst to financing, construction and production'.
A statement on environmental approvals only goes so far to say that no material problems were anticipated.
I've found it always pays to differentiate what CEOs and firms put in writing in ASX announcements, where the statements are subject to strict requirements. Anything else is less reliable. And is more likely to be on the basis of forward-looking opinion and optimism of the Board and management. Who are selling their company.
I'm pretty confident that your contention, that the company made 'Ann's' of the sort you claim, is incorrect.
And if you relied on other comments that was unwise.
CEOs are human. They suffer from the same natural optimistic biases as everybody. And are in the job of selling stock to raise funds. They are very capable of misjudgment or over-enthusiasm.
Again, I doubt any ASX announcement was made consistent with your claims - and if you cannot present those then your statements are libelous.
And if you relied on other commentary from management, then maybe there is a lesson to be learnt.
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I've found it pays to manage investments based on the cold hard facts and on how the stock price - i.e. market buyer and seller dynamics - is judging the stock.
And in my experience, it is dangerous to rely on off the record CEO comments. In fact, the more that managers indulge in that the more wary to be.
I appreciate that a good past management track record might allow us to lean in somewhat more on forward comments from them. But even the best can make mistakes or have delivery on predictions affected by circumstances they did not anticipate. And that sort of management are generally more cautious and caveat any statement on expected progress.
