Ann: Change of Director's Interest Notice, page-7

Just go back through announcements over the last 12 months and you will see that the production date has been creeping up slowly quarter by quarter. Let's take last years annual report for example - from the MD's own mouth as below

The Al Wash-hi Majaza Project is on track to produce its first copper concentrate by the fourth quarter of calendar year 2022.

We are in the 4th quarter of 2022 now you do realise ??

Last lot of announcements are talking June quarter next year now as date for substantial completion of the plant - that recent announcement around the issue of shares to Progesys has this regarding voluntary escrow

The holding lock will be released on substantial completion of the mining and processing infrastructure for the
Company's proposed Al Hadeetha copper-gold mine in Oman, expected to occur within the second quarter of calendar
2023

So "substantial completion" by June quarter

The project update released on 20th Sept 2022 said following

The Al Wash-hi Majaza Project remains on track for completion in the June quarter 2023

.So from date of annual report last year in early November to now the production date has blown out by at least 9 months. Do you not read announcements ? Have a look at the info I posted in the other thread around the MD's options - the vesting conditions for those were production of concentrate in Feb 2023. That's not going to happen if plant won't reach substantial completion until June next year.

So going by the fact that within last 12 months the completion date has already blown out by 9 months is it really that big a stretch to imagine that by this time next year we will have further delays and still not be producing any concentrate ?? They are making progress, don't get me wrong, but as usual it's slow.

By the way I'd be interested to know why you think Progesys will be "running" the mine ? My understanding from reading all the announcements is that their contract was engineering, procurement, construction (EPC) for the process plant. Their obligations cease upon commissioning of the plant as far as I know. Do you have info to suggest otherwise ??

We let the contract for mining services in house to our own mining services arm [ from last years annual report - Alara Resources LLC (ARL) for ARL to perform mining services for Al Hadeetha Resources LLC ( AHRL) over ten years at a cost of approximately USD 126m (AUD167.83m)]. So maybe I was mistaken by assuming we would be "running" the mine in house. Let me know if you have information to the contrary. I assume this RIO Tinto guy is working for AHRL ?? What's his name ? I'd be interested in seeing his experience, it'd be nice to know we have someone on payroll who has some runs on the board.