Only a few weeks ago, everyone was running Chinese ANNs through...

Only a few weeks ago, everyone was running Chinese ANNs through translators and pointing to ambiguities claiming it was concrete evidence of imminent finance.

Today its court battles with the biggest shareholder.

The reality is this is a classic example of shareholders believing the story over the facts. And the problem with stories is that they are based on assumptions and rose-tinted interpretations.

The facts are over the last 12 months and this is by no means exhaustive:

1. PC predicted finance last June and the deadline was missed.
2. Finance to commence earthworks contract last October not agreed and missed the season.
3. Social media accounts deleted.
4. CEO resigned in January, and CFO left to run the company effectively performing as an administrator. No plan to replace CEO.
5. No reportable progress (not a single data point) in 12months whilst the company continues to hemorrhage cash.
6. And most recent an absolute debacle of an AGM thats left the future of the company in complete disarray.

And don't forget the optics:
1. CCP owned company is the largest shareholder.
2. Cabo Delgado currently ravaged by an Islamic insurgency.

There is nothing else material that has unfolded over the last 12 months so the real hypothetical everyone must consider is if you were presented with this as an investment option today would you invest?

Or is the real reason you are creating evermore fantastical conditions in which this company can succeed is because you're either:

1. Invested and now in a loss; or
2. Believing in a story rather than following the facts.