Ann: First Nickel Sulphate Produced from Jaguar Ore, page-11

we're objectively discussing how our investment is progressing which mainly involves assessing progress to first production

the delays and the incentives are two of the underlying issues. the delays have set first production back around 2 years and the freebie option incentives give the BOD too much discretion with no hard milestones as criteria which i dont think incentivises them to meet deadlines

remember that when they did that CR in jan 2022 they said they were now funded to deliver the DFS by dec 2022

dec 2022 came and went and we got nothing

then we were told the DFS would be delivered by mid 2023 and recently that changed to dec 2023

i ask you this, how can you deliver a DFS in dec 2022 or mid 2023, when you recruit a good chunk of your DFS team in feb 2023?

as shareholders we have the right to ask and discuss why things have continuously not gone to plan. you cant keep doing the same thing and expect a different result. its not an easy job that they do and i'm sure they all work hard and have our best interests at heart. however, you cant keep making the same delays and not expect any scrutiny. imho all we seem to get is excuses and blame pointed at third parties. there's never any acknowledgement let alone responsibility taken for the delays. they want to get paid top dollar and want every last drop of the freebie options. well, i'm not against that, but you need to deliver first!