Sorry for rant.
Like many holders, seriously, what a disappointment from a supposed world-class management.
* I wasn't pleased with the 16c Cap raise last year (should have done it at least 20c).
* DFS was initially delayed from March 2022 to June 2022, and from now till at least September 2022.
* Production estimation timeline has been delayed to Q1 2024. Would this now be delayed to Q2-Q3 2024?
This project is supposed be a game changer for the Australian Nickel-Cobalt/Mining + value-adding industry (that's the main reason I was in), but this is not an excuse to continue delaying the DFS.
I fully understand if there are necessary fine-tuning required to make the DFS more feasible from a financing perspective. But honestly, management should have just released the DFS and update the DFS down the road. As we all know, the ASX is ruthless when it comes to delays, any competent management that cares for shareholders value should know that. A 3-4 months delay while common in running a business, is detrimental to the sentiment of the stock price of a pre-revenue company, and more so in this market environment.
The question for now:
* How severe market sentiment has been impacted?
* How many more months till we actually get the DFS? (I no longer trust the management's projected timeline)
* Will FID come in conjunction with DFS or after?
* How many more quarters till a CR is required?
* Will the market begin pricing in a perfect DFS to cover the shortfall of the delay? (this is a huge concern, if DFS is not par to perfect/spectacular, I can foresee an ADN, SYA style selloff)
Appreciate it if someone can speculate/help with these questions.
Trading sentiment a defo NONE until the actually DFS comes out.
Will continue to DCA but in way-way smaller amount from now on.
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