Yep ... they should have just ripped the band-aid off and said that although demand is strong it's taking much longer than anticipated to finalise BOA's.
Instead they dodge and duck and the scripted webinar and questions had a very poor look.
My takeaway was:Demand is still SOLID, however Chinese and Japanese marketsremain very restrictive.
Other ASIAN nations remain a bigger share of the market demandthan CHINA.
Time to negotiate the Offtake Agreements is taking longerthan previously anticipated.
4 BOA are currently in place and a number of others arecurrently under negotiation.
The LOI with IMCD is currently in the process of conversioninto a BOA.
The Starter Plant can produce the KCM90 and HRM products.
The Starter Plant can be upgraded to produce the other productsas per the DFS.
The Starter Plant will initially produce 50,000 t pa ofproduct and can be upgraded to produce 300,000 t pa.
The Starter Plant will be upgraded as per demand.
The Company will deliver on the numbers of the DFS
I've watched it twice - happy to be corrected on any details. JM was hard to watch and hard to undertand at times.
All in all - at best its bottom drawer until BOA's are announced.
Current price reflects BOA's at 50,000t ... which we don't have yet.
Yep ... they should have just ripped the band-aid off and said...
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