Well said PS, I for one totally agree this is not anywhere near...

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Supercat

388 Posts.

1155

10/06/22

22:12

Post #: 61951345
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Originally posted by PS: ↑

The problem is that there appears to be no plans and timelines moving forward. If there were a plan it would be material and would need to be announced. No mention of any plan at all for Canegrass gold or vanadium it seems. Does anyone think it is a little odd that Flinders has prospective resources at Canegrass and apparently NO PLAN?

Not only that but we don’t appear to have a plan and timelines to BFS, FID and production for our major project the PIOP. After the company recommended and did it’s best to persuade minority shareholders that the BBI JV was the best way forward more than 2 years ago we are yet to see any plans with timelines to lead to a successful PIOP project.

I wonder what the highlights will be in the next annual report? Market cap markedly down? Minuscule progress in PIOP JV? Managed to go another year without plans and timelines to BFS, FID and Production? Managed to provide no forward plans and timelines for Canegrass? With IO at near record highs managed to not ship a single ton? Managed to provide the minimal information for another year? Managed not to inspire minority shareholders for another year? Managed to keep paying too many Board members? Managed to stay in negotiations with BBI without a recommendation to shareholders or conclusion of the negotiations? Managed to get a market cap that values our PIOP IO at around 5 cents a ton?

Yes, I am being cynical about the situation but can anyone think of anything positive regarding Flinders progress over this financial year, and any announced vision moving forward? Are my suggested “Highlights” incorrect? Are there others that I have missed? Any that should be modified?

I would so much like to be surprised by really positive announcements that show the way forward. Like many others I keep thinking that something must be happening in the background and we will all be pleasantly surprised. Blind optimism? How many years can, what could appear to be, this cloud of secrecy continue? It really isn’t good enough, is it?

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Well said PS, I for one totally agree this is not anywhere near good enough by our Board who are supposed to be working for all shareholders, NOT ONLY ONE!

Would be extremely interesting to read the article that appeared in a NZ publication in the last few days. Only able to see the headline which stated that Todd Family's planned iron ore push in the Pilbara will be delayed for another year due to unforeseen circumstances, which I read as unable to rid themselves of minority shareholders.

Hopefully someone has access to the complete article which could be shared with us, not just a link which directs everyone to the subscription page.

Maybe, PS, we need to complain to the New Federal Government to get their assistance in helping out the Mums and Dads investors being so poorly treated by our very own Board as well as our major shareholder!

FMS Price at posting: 43.0¢ Sentiment: Hold Disclosure: Held
18 Upvote

4 Great analysis

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