This is one of the worst announcments I've seen in the 13 years I've held this stock.
Not because there's anything wrong with the content of the announcement (although saying that a second batch will be sent to Curtin University some time in the unspecified future is mere handwaving), but because of the fact that this announcement effectively means that nothing has been done since the January 25 announcement of the initial beneficiation sample test.
And, while nothing was being done, Phillipa was pumping out videos promising regular news flow and foreshadowing met work results, which has now been revealed to have been nothing more than a cynical pump.
And now, just as I have said previously, we have reached a situation where there is next to no chance of the options being in the money, where future funds will be required to keep the company afloat as it dribbles out miniscule tranches of work to a lab in Vietnam, and where catastrophic dilution is the only means by which to prolong solvency.
Very sad day for people like me who have shown faith in management only to be repaid by dissembling and incompetence.
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