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AGM Answers, page-115

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ohreally

8,072 Posts.

554

07/12/16

21:35

Post #: 21181250
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Originally posted by wgdt72 ↑

Sorry jh i guess everyone has there opinion and thanks for sharing but for my information can you let me know how many iron plants you have commissioned? I would say not many maybe none.

It was me that asked that very question at the AGM by the way and though i was not that excited over the answer i was more excited as that Sean came up to a group of us after and answered any of the more technical questions we had. Now i did not ask that questions again but after speaking with Sean i got the impression that as stated the plant is in testing phase testing various aspect of the process.
Now in this phase IMO you test for a lot of things in small batches to see how the plant will cope.
During this phase IMO they would want to test how good it really is.
Hence they started with the lower grade ore to give it shake and see what it could do.
Harder to do this once the ramp up is in play spitting out thousands of tonnes a day.

So in essence they have proved that they can feed lower grade and get a great outcome.
More money for us. Not only are they probably testing this plant they would be testing parameters for the next plant. Stupid if they did not.

IMO the ANN around feeding the lower grade ore into the plant as a test run is more significant than
'We ran the high grade ore through and got a great result of 62%Fe"

I bet this would have been your response to that ANN.
'But that ore is high grade when they put lower grade through it won't work'

No announcement is going to please you as you always look at the upside down version.
Don't get me wrong i am not really having a go at you as i feel that you add a level of reality here sometimes but other times i shake my head. I hope you understand why.

In this case we are at a critical stage not only commissioning but need to sell the product.
We really have no clue as to there strategic plan but from the last 12 months they have more than proved they no what they are doing so please give the company a bit of credit and start to look on the upside.

If there was a delay it would be for good reason for the future stability of the company.
Get it right the first time as they say. January looking good to me.

Another note that was also mentioned was that the engineering firm over their have made comment that they have never seen a plant commissioning go so smoothly in relation to 'Power up'

Many competent people over there working really hard to make you money so although it is ok to look at the potential risk also look at the potential within the management team to handle this risk.

I hope to see you at the next AGM with a list of questions as Tim did and they will be answered.
You do not even have to wait until then if you want to pick up the phone and ask them.

IMO they have it under control. Enough of my ramblings night all.

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When he sold the majority of his holdings way to early in the low 2's is it any wonder he doesn't pick up the phone, continues to post negatively over and over, and is now coincidentally calling for the 2's, might be best just to say 'GL with your next parcel jhurny', as it's more than apparent that his questions are exclusively meant to be rhetorical in hope of placing doubt in some weaker minds.

Let's not also forget Mr.Bot that has been around trying to trigger stop losses, nervous Nellies and weak hands on low volume, it's in the best interest of the owner of these algo's to down-ramp(or pay someone to do it for them) whilst their bot pushes in their favoured direction. Take T10 on the XPE threads for instance.

Last edited by ohreally: 07/12/16

NSL Price at posting: 3.8¢ Sentiment: Buy Disclosure: Held
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