As a long term holder who has been disappointed many times with...

As a long term holder who has been disappointed many times with this company, I can understand why investors are cautious about putting good money into buying shares. I can also understand why people are frustrated with Shandong and wondering about whether there are ulterior motives in their super cautious approach. One thing experience has taught me is that when there is a choice between a conspiracy and bureaucratic inefficiency, 99% of the time it is the latter.

The other thing that I have learned more recently is that not all Chinese are the same. (Surprise!) The province where Shandong comes from is renowned as being very cautious. I think that they have been super cautious, not wanting to commit to mining until they were certain they could succeed. In the last twelve m laths they have clearly decided they will commence mining and have taken very appropriate and effective steps, including bringing on senior staff who have good experience in mining. They have set out a clear plan to resuming mining in 2023 and have been ticking off the boxes on their timeline.

I believe they will resume mining this year and that it will be quite profitable. When they start on Laverton it will be a lot more profitable. Having said that, I am still hesitating on whether to buy more, or just be happy with my moderate shareholding getting back close to breaking even ...