Totally agree - nothing new of substance. A box ticking exercise...

Totally agree - nothing new of substance. A box ticking exercise to get the report out. I'm surprised they are releasing it so early when the Month isn't over yet. The silence on that $12.6M tax rebate really does worries me.

Good to see that the construction seems to be progessing well, giving confidence that the plant will actually be built and maybe completed by end of March. I recall that the 5 stage commissioning process was to be a 3 month process. It seems they have started commissioning of some inividual components of the plant which is good to hear. They can't begin commission the plant process until construction and handover is totally complete.

I'm still not clear on the expected target MgO production date against what they said/implied. Looking back though what they have said:

	Report/Date	Specified production dates from LMG	Commentary
1		extracted from reports
2	November Monthly progress Report issued 4th December	As such MgO is targeted to be in production in March and the follow up with magnesium metal expected soon afterwards.	Ok, so LMG set and expectation of producing MgO in March ie before the end of March. Not sure what “soon afterwards” for Mg metal means. I have assumed the next quarter.
3	December 2023 report issued 19th January 2024	Magnesium Oxide (MgO) production strategy is on track with construction labour expanded to 50+ local trade contractors engaged onsite.	“on track” implying same as last month that MgO production before end of March, Mg by June
4	Q2 Quarterly issued 31st January	Magnesium Oxide (MgO) production strategy is on track, allowing LMG to initially prove its patented process and to generate early revenue. Focus will then target completion of remaining works with Magnesium metal production starting H2. Our target for the first MgO production after March 2024 remains unchanged.	Saying “remains unchanged” is rubbish. I find that to be quite insulting to think we would not notice this change. It has changed from before end of March to sometime after March – Christ knows when. Mg production changed; now starting H2 which I interpret as July?
5	February progress report issued 28th Feb	Our target for the first MgO production after March 2024 remains unchanged.	Still after March which leaves it open

Clearly, they will have a Ghant chart of some sort, with the commissioning and production built into it but don't what to tell us those dates because they are not confident of achieving them.

Every day that production is delayed is a day without revenue but the expenses continue to mount and if it goes for too long it will mean having to raise some revenue somehow - hopefully not another cap raise. In addition, it will push-out the Mg metal production date.

No, I am not going to phone DP - I shouldn't have to do that. I take at face value that when LMG says they will give a monthly report that it will be an honest up-front report without ambiguity. That's at the heart of professionism.

Hopefully we will get there eventually with MgO production by start of May. I hope we don't get a repeat for the Mg ingots production timetable!