JR's insistence on putting all his (I mean, shareholders money) eggs in one basket via both the amateur overselling of what Cummins wasn't and failure to have a non-Kimberley wet season project going in parallel (excluding the one he gave away and the ridiculous one he held onto), continues to hang over the company.
Durrant is correcting course but most have moved on.
At the same time, Durrant isn't cutting through. He's making super nice presentations and is a great communicator (and Cummins is a good project) but it's making no difference. Little to do with him but there's no easy sell of a 0.31% hard rock resource for almost any volume of material. Thank goodness there's new drilling this year and maybe we get some newer, more surface mineralisation, which is where the company needs to be co-focusing on now.
Approaching his one year appointment, Durrant really needs to step it up, though sideways. Every second company is now into battery metals - no one cares. Cummins needs to take a public half-step back into a far tighter presentation (leaving the full details for elsewhere, eg. no one cares about the composition of the Board or the SP - if they did the SP might not be currently 2c) and the other prospects need a shove.
And stop hiding Weld North and Mt Mansbridge, both of which keep getting annual expenditure but only the most minimal public notice. Seriously, this company was a retail store, it might be out of business. The company recently claimed the rest of the Mt Mansbridge formation which RMX had a bit of a go at and gave up. I hope someone knows what they're doing.
The former MD and Board (excluding the recent appointee) have a lot to answer for - particularly JR and Young as Chair (who, by the way, despite it being thrown around for years, didn't actually found Pilbara).
Get it together. Somewhat differently.
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