Ann: Annual Report to Shareholders, page-18

I wasn't going to post anymore but a couple of things concern me:-
1 - I am not too concerned which port they use and clearly they need somewhere that can handle increased capacity as mining ramps up. The thing is though this would have been one of the first things to look at surely. A stranded asset that gets a transport solution with no port is still a stranded asset and I am pretty sure we were all assuming they knew of availability of such allocation.
2 - The lack of comment in the annual report about the DFS was annoying and then a media article where SM states "the company has slowed down the pace of its work on a DFS" obviously means they haven't started it at all, but seem reticent to advise us lowly shareholders!!
3 - This all flies in the face of the rhetoric about all systems go and fast tracking to mining.
I understand the arguments about looking for a suitable port solution and if they can come up with something concrete then all good.
But, we've been here before and it is starting to smell like (once again) just as we start to walk down the aisle, it all grinds to a halt.
It was clear that the DFS was the next step which would lead us to a re rate and FID, well guess what, just like BFS's before, we don't seem to be able to take the final step.
It appears a CR will be required before the DFS is completed (started??) and once again it will favour our majority owners due to disgruntled minority holders reluctance to tip any more funds in.
(I hope this hasn't all just been positioning the company for that elusive "change of control" event noted in the CEO's remuneration package)
4 - It is also very concerning that this is all happening (or not happening!!) while we do not have a board that is majority independent as per the recent Governance statement so who do we have looking after the best interest of all shareholders?? Independent Directors are Edwardes and Harris...hmmm
We have also seen this before, I am sure we all remember.....................

I hope the company can advise something soon in regard port and completion of the DFS so we can confirm it is just a delay not more games being played with minority holders left completely in the dark!
Of course all just my opinion.