Well I finally (not a DEL final a real one) sold out. I should...

Well I finally (not a DEL final a real one) sold out. I should have done it long ago but I honestly believed the potential upside made up for the disasters that had taken place. With things dragging out and money evaporating the potential upside is now small, the risks are huge, and the track record is horrendous. Management don't want to inform us of anything, and they used the same reasoning as last quarter as to why they wouldn't lose money at the same rate as they are using this quater.

I think *best* case scenario is they really don't have anymore loss on NZ and they have enough funding for 1.5 ish quarters. But I highly doubt that, they still had a $25k expenditure on Blue Lake Milling wtf? That disaster was meant to have finished draining money from the bank. There is no retail energy division with millions in revenue to help recover, our entice new holders to take a gamble and save their arses, there are just some risky EPC contracts. They are not getting a loan from ANYONE to support them going forward like they claim as an option in the report, that is just a fairy tail, and any CAP raise will need to be at a very heavy discount. Also why would Palisade give them another convertible note when they won't even fund the builds and hence bleeding the company out. The last CAP raise was very difficult for them, one now is next to impossible.

Here is the story of DEL. Shit hit the fan when covid arrived, when the end of the year came then knew they were in trouble and listed to get funds to save themselves under the story of building future self owned plants. They pretended to work toward building out Vic1 while funneling cash to the money burning Blue Lake, then under the story of working towards builds again did a cap raise and finally a convertible note to save their arse a bit longer on the NZ build, all while collecting fat pay checks and super contributions.

Update on Vic/SA funds: "This work is expected to continue in Q4 FY2023 towards completion prior to the end of the financial year." Geez where have I heard something like this before? Let me think. "towards completion" says it all really. Its all but admitting its just a lofty goal with no real confidence it will happen. Same with the language about the $45m EPC build, it sounds like they have zero confidence this will go ahead anytime soon.

Are they trying to get these builds to go ahead? Sure. However its too little too late, and they hide everything for shareholders until the very last possible time they can, Hamish is a serial entrepreneur, go look at his shark avoiding wetsuit TED talk. This talk concerned me when I watched it I should have gone with my instincts. The story they were selling to us with DEL was just too good to be true, fat profits with fully funded builds, this alone should have kept me away but I took it hook line and sinker. If it sounds to good to be true it probably is.

I will continue to watch because I like what they are trying to do, but I've lost a huge amount on this company, I believe probably more than anyone here based on others posts, its time to put my tail between my legs and make off with what I have remaining. At least I will have tax write offs for years to come lol.

Good luck to those riding this thing out. I hope that I'm wrong.

END RANT