@Deboss ..... Can you please get out the attitude that it is all a conspiracy against us??
The order of what happened is pretty obvious if you just read these 3 announcements from the company...
https://www.asx.com.au/asxpdf/20180723/pdf/43wpsd3zx5s96p.pdf
The initial announcement in July 2018 ....it basically says we are just going to do this cobalt strategy instead of researching to see if it is viable.
Included on pg 9 was acknowledgement by the company that they would have to satisfy listing rules 11.1.1 and 11.1.3
11.1.3 .... If ASX requires, the entity must meet the requirements in chapters 1 and 2 as if the entity was applying for admission to the official list.
from .....
https://www.asx.com.au/documents/rules/Chapter11.pdf
https://www.asx.com.au/asxpdf/20181203/pdf/440wwn0nh4lngp.pdf
Dec 2018 WFE release parts of what ASX require, this includes the operating permit for the processing facility, and the offtake agreement.
https://www.asx.com.au/asxpdf/20200122/pdf/44dfvq6lcxv7pq.pdf
Jan 2020 company announcement clearly states they DO NOT have an offtake agreement, one of the requirements.
Also there has never been an announcement about gaining the operating permit for the processing facility, a very specific document. I assume the never got it, because there is no evidence to say they did.
In Jan 2020 WFE basically stated they were giving up on the cobalt plant because they couldn't comply with the requirements. It was WFE that chose to ignore the usual approach of doing a feasibility of the operation and just dive in. It was WFE that chose to 'just do it' but failed to complete the tasks they effectively set themselves to do.
The ASX gave the company a lot of latitude within the existing rules to prove the strategy had legs. They said fine, just show us all the documentation. WFE in the announcement clearly stated they had failed to obtain the offtake agreement that was an important part of the original strategy.
It never was close to the ASX using their discretion, as WFE failed to produce the required documentation they knew they needed.
How can you not understand what is clearly written in the announcements?? I do notice you're not alone on that front.
@Scarpa great post this morning...
