Ann: Gold Coast Investment Showcase Presentation - June 2023, page-40

My understanding of how I would expect a company like this to operate;
Put a plan in front of shareholders / investors with a feasibility study / briefing paper to support what they intend to achieve, how they intend to achieve it, required resources / overheads, cost plan forecast or budget, and detailed program clearly outlining target milestones / deliverables, and attached KPI's.

Within each quarterly report, they should be running through each of the agreed baseline deliverables and status the progress, plot it on a chart so it's clear to people, this is what we aimed to achieve, this is what we actually achieved, for both time and cost.

Any deviation from the baseline deliverables for the quarter, must then be explained, and it is then up to the shareholders to decide whether the deviation is genuinely unforeseeable / no fault of management, or if there is negligence / inexperience on their part. On top of this, the management should be outlining a change management strategy to demonstrate the changes they intend to make to avoid similar future issues, and a plan of how they intend on bringing it back in line with what was agreed.

Fair point on the Boron / CSIRO involvement, may be unknowns there which are difficult to put a time against, but an indicative plug number would do at this stage, easily explainable.

Nobody is saying they expect AR and the BOD to get it exactly right every time, but it's the lack of transparency, how can the market judge their performance if they have nothing to measure it against. From outside looking in, it's hard to see any clear plan at all hence the poor response to the latest CR, and the current SP