The writing had been on the wall, and clear for the last year. A...

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DonFrye

406 Posts.

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27/11/22

14:27

Post #: 65011468
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Originally posted by Emeco: ↑

The Final Draft, you refer too, covers 3 ports, Albany Bunbury & Esperance. They all then fall under the Capstone Plan. Once all 3 have been recieved by SPA and signed off, they are forwarded to the Minister for Mines in WA. Now the fun part, 2022 is almost over. It has 2 weeks to go before Federal and State Govts end the year. Federal and State Govt Ministers dont start again, until Mar 2023. Govts are open for basic things only.

As in the Albany Meeting, the timeline for the Minister and his Cabinet to approve is 6 - 12 months. Assume the worse (12 months) and your now into 2024. I doubt they would have budgeted for any of the Ports until, they see the detail. Hence why I suggested more like 2024 - 25. Plus with upcoming changes to Native Title and Heritage Protection, my guesstimate, could be blown out by another 12 months. Google - What happened at Juukan Gorge?

If you look at the Esperance Screenshot, it mentions Port Maximisation Project. (Capstone Plan). You will see it also mentions Strategic Asset Planning for FY24+ budgets. They also mention the next 1 - 5 years annual cycle.

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The writing had been on the wall, and clear for the last year. A Port won’t be unlocked anytime soon. Management knew this, the last serious manager who left MIO in the middle of the night had been spruiked as strong within the Port circles.

Obviously, this was unsuccessful and a new direction was taken to spin-off assets, then trickle MIO cash into IMI. All at the expense of the share holds.

I suppose selling off MIO would be an issue to management as it comes with 20% of IMI. Note the doubling of IMI hasn’t impacted MIO sp.

MIO Price at posting: 12.5¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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