Following TAW/A40 on HC for 3 years, I agree that many of us invested here for a medium/long term. But the question is how long each consider any investment as a long investment and what return we do expect over those years?
So far, we are were we started when MC was appointed as CEO of TAW.
Yes, directors can't influence prices of commodities and in many cases SP development if shorters or other market players are focusing on depressing SP for one or other reason.
However, the rules of running and or managing a business are the same regardless whether is mining, retail, manufacturing etc.
When you have top man commanding $600 K a year and chest of other people money to splash on advisors plus other experienced directors for support, it is an expectation of investors to be ahead or being prepared for any downturn in your industry and take proper measurements before is too late.
As much as I liked all TAW progress over those years, latest developments were very disappointing from my prospective view on controlling tough times by A40 management.
Many of us (retail investors) do not have power or access to information that BOD have but still many posters were raising valid questions for which we either don't have an answer or were told that any positive development is just around the corner.
"The corner" we are walking to for months and each time we think we are almost there, comes an announcement saying keep going - is not far away.
The rules of controlling your finances and spending habits should always be adjusted regardless whether you run business or household budget.
Am I bushing our BOD?
IMO I don't. Like any shareholder I am just expressing my disappointment based on my personal view.
What made me disappointing is that our experienced BOD did spend lots of funds on merger, staff increase, new name, rewards to many "consultant" etc. at times when they knew (or should know ) that getting well valued new offtake agreement is a challenge while at the same time their communication to us was that everything is under control, we are in "finalising stage" and somehow healthy management of finances.
We purchased items for future development of mine without any guarantee of receiving additional funds from sales and at the time were our prestrip ratio (thus mining expenses) were still high.
I was under impression that latest CR will be the final need for drilling and fines, just to find out that we needed all that money to stay afloat.
The fact that our lenders fire warning shots is a sign that in their opinion we are walking on fine line and struggling with balance.
Now we hear from post by @atom99 that our only clients could shop elsewhere or ask for lower price. Lucky our $AUD is at such low exchange rate.
We and market are waiting for the news on the "strategic review", something IMO should be addressed at beginning of 2019 not now.
We have at present the worst performing SP and may not be long before we will can face additional expenses to engage (already appointed) consultants to advise our BOD how to defend us from cheap TO.
There is huge potential in BH land and lithium market in coming years but IMHO our SP reflect more "big talk - no walk" of BOD than lithium market and they should be ashamed for asking for more bonuses while failing to deliver goods.
Since beginning of 2019 each announcement fells more like more food for mushrooms because this is how I feel now after trusting MC and waiting for promised progress.
The much expected JV BOA and new offtake is still were it was - "finalising" or "around the corner" and no sign of any closer date.
I hold and hope that someone will take BH from our BOD hands or they will get on with their job and bringing some goods before Tribeca start sharpening their axe.
I agree that current lithium market could put us between $0.15 - $0.20 range but $0.07 or below I contribute to the BOD handling of A40 affairs.
A40 Price at posting:
7.2¢ Sentiment: None Disclosure: Held
