(I didn't take notes to apologies if I don't get the details verbatim)
The management handled themselves professionally. Not too many pitchforks out - one pointed question about cash burn and how quickly the funds from the recent CR would be consume (which was dodged a little, I felt).
Some interesting observations on target off-takes - the United States gets a mention there. But also it was spelt out pretty clearly that there should not be an expectation off partnering or offtake agreements int he near term. The message was that the pilot plant results needed to come in and be demonstrated to give better partners greater comfort before an investment decision is made.
I took it that the Environmental Approval application has not yet been submitted - again, tied to the pilot plant, and understanding the emissions from that.
The move to Mullewa was clearly explained as a way to lower our Opex. The amount of that reduction (due to lower gas costs) is being crunched, and should be visible in 2-3 months.
After pulling a few teeth, we did get an admission that they are 3-4 months behind where they thought they would be a year ago, because of some issues with the initial pilot testing work (?). But the commentary that "getting it right the first time" was sound.
Overall, I came away feeling this share price is gonna languish for a few months, but that there's a good level of professionalism and confidence in the direction they are headed, and that they are working to a plan.
I just hope the money doesn't run low again before we get to a point where the fishies start biting...
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)