Ann: Entitlement Issue Results, page-47

Morning, DB.

Apologies if you have interpreted my posts as defending management. Not my intention.

As I pointed out in my OP, a lot of the issues stem from communication - i.e. overpromising, especially around timeframes. We have essentially made the same point. And I am cognisant of other mistakes as well. I advise management of some of the world's largest corporations for a living.

And trust me when I say that I have been in regular contact with Barry - offering my unsolicited feedback/advice & asking questions to clarify certain things. I'm just not the type who jumps on stock forums and bags out management ad nauseam - preferring to deal with them directly when possible.

I haven't posted incessantly in these threads since joining the register a little under 12 months ago. I usually lurk and enjoy reading the well considered posts of many others. But, when I do post - I try and add value to the conversation.

The main point I was trying to get across was a better understanding of just how difficult it is to raise circa $300m in total for a company capped around $100m. It is extraordinarily difficult. TBH, it has surprised me how confident Barry has sounded about it all. And perhaps that has contributed to the growing anxiety among shareholders when management have subsequently missed deadlines. Again, this is par for the course in the spec mining space. I have seen it played out on so many occasions. Not condoning or excusing it. Barry clearly needs to work on certain things.

The pressure is on management to deliver. I'm just trying to focus on how we will get there. That they brought Glencore to the table cannot be underestimated. Bit more work to do, but I remain confident. I'm frustrated, but I will remain constructively impatient. All the best to you.