As someone who has been in since IPO, it has to be said the company is not exactly endearing itself well in terms of keeping to its timelines. Let me substantiate that further, with a few notes I've collected along the way:
Blackdome-Elizabeth: January JORC, per this ann, delayed (or 'changed plans' if you want to use semantics) and now pushed to May for drilling inclusion
Claypan: on ground work program was expected within a week back in March 2019. Delayed, then expected in Q2 2019. Delayed, then it became expected to occur in Q3 2019. Obviously delayed again, on account of native title consulting still occurring, with no update.
Zarza/FND: air magnetics/radiometrics were expected late Q3. Delayed, didn't actually start til December.
Montejinni: aircore drilling started July 2019, results expected late in Q3. Delayed. Awaiting report in Q4. Delayed (or not announced.
***
Now, for all the above, you could easily say they are inconsequential matters (i.e. "who cares about Claypan and Montejinni"), nor necessarily attributable to (e.g. native title) or bad for the company (e.g. waiting to update the JORC with new drilling). And sure, they don't exactly take away from the underlying merit of any discoveries that might be made during exploration.
However, if people actually wonder why the stock sits at these levels, and is so "undervalued" compared to some of the wild speculative calls that have been announced here, from even the most impartial of perspectives, one should also consider a reflection of confidence in the company and its management when timelines or promises are made and missed, repeatedly.
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