Ann: Macquarie Australia Conference, page-120

Yep, I'm of the opinion that enough time has passed post the proposed production start date that SN needs to clarify to the market what's going on. Usually gas plant builds that I have worked on all blow out their timelines, but this is going to be a 30% blowout on the original timeline (production licence granted in Jan, first gas by start of April was the original) with the only guidance for production being 1H CY23.

A few weeks to a month is justifiable considering the initial build timeframe without explanation, but for pressure vessels to only be travelling to site now something has gone wrong here, wether it be a mismanagement of the project, or an oversimplification of the build schedule, it needs to be explained in more detail.

My sources locally reported that concrete footings had been poured and nothing else as of a few weeks ago hence why SN gave us a nice snapshot of the solar panel setup when he was on site last.