I think almost all of us would agree with you that this should have been much easier and faster than has turned out. "I am just now concerned that even with funding do they have the skill to complete it." With the new appointments that you mentioned, we would hope so.
"Shanghai Jason keep pulling the rug out from under us at critical times. They are not behaving like a strategic investor but more like a strategic saboteur. " That seems plausible but if they had such intentions as you and one or two others suggest, with their financial might wouldn't they want to build their position and voting power rather than allow themselves to be diluted down at all by not participating in a cr with attaching options? Maybe a more likely scenario is that they no longer have any immediate plans for our phosphate for P4 so don't see the need to participate. That's just a thought, not something I've heard or read anywhere.
I agree that the timing of Lindsay's pay rise sucks but I also know how hard he works and how much time he has spent in Angola, including being stuck over there for a long time during covid. If being compensated for time and effort and no doubt stress as well, he deserves a decent salary relative to other MD's or CEO's. If based on performance only, then you have a point that not many would disagree with.
A couple of posters have described the cr as "massively" dilutive. I can understand how pissed off most shareholders are and I didn't like the options being added either but massive dilution is a big exxageration. At $6mill (if that's what they raise) even with the options being approved by shareholders and all of them getting exercised, the dilution is just under 20% of all current shares and options. For whatever sp target anyone expects in 1, 2 or 3 years, the effect is that the targets would drop by up to 20%. If the company announced something that effectively increased the NPV of the project and any 1,2 or 3 year sp target by 20% and anyone said that that 20% was a massive upside to the valuation, I'd think everyone would see that as a very big exxaguration and therefore ramping. A 20% limit to upside is no more massive than an increase of 20% to upside.
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