ADN 5.88% 1.8¢ andromeda metals limited

I was pondering over this wonderful company that I've invested...

  1. 2,957 Posts.
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    I was pondering over this wonderful company that I've invested in and believed what has been put to me as a part-owner of the Company by the Managing Director (and a few others on the odd occasion).

    I was thinking about the things that were told to us - but did not eventuate. This is what I came up with in about 15 minutes:

    1. DFS would be released in June 2021 - WRONG
    2. DFS would be released Q4 2021 - WRONG
    3. DFS would be released Q1 2022 - WRONG ( I realise they couldn't release it due to the take-over. But IMO they could have stated that they are in the middle of a material transaction that may or may not eventuate, but until it is finalised they cannot release the DFS. As is stands they kept saying that they were re-jigging all of the numbers from the bottom up, fine-tuning etc. This made it look worse when the results hit.).
    4. We were told that potential off-take partners were waiting for the DFS to drop and when it did we would be seeing the flood-gates opening in relation to BOA's and news-flow - WRONG
    5. Mining Lease to be granted in August 2022 - WRONG
    6. Company would be turning over the first soil on 22/02/2022 - WRONG
    7. PEPR would be submitted within six months of Mining Lease - WRONG
    8. Carbon Capture pilot plant to arrive in Australia on 08/05/2022 - WRONG
    9. Investor Webinar 30/03/2022 states in relation to the CC pilot plant: "Pilot plant is already assembled and will be a very quick process to get it up and commissioned and running." - WRONG - (Annual Report states: "The technical specifications of its various components are being assessed for verification to confirm the equipment meets Australian Standards, prior to the plant being assembled, for testing and certification.")
    10. BFS to be released shortly after the DFS - WRONG. (Ann 11/10/2021 states: "The timing between the DFS and BFS is envisaged to be relatively short due to the significant amount of engagement with potential debt providers undertaken").
    11. DFS stated construction commencing October 2022 and stage one production commencing July 2023 - WRONG
    12. Stage One processing rate of 300,000 tpa - WRONG
    13. Saleable production of 153,000 tpa - WRONG

    Anyone else have anything to add?

    We should create a list to put to the Board at the AGM. (You reading this Patrick? Maybe cut and paste to the Board now so they have time to prepare a response?)
 
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