I've been here since 2017, check the history of this stock on HC. I've been patiently waiting here for quite a while for something to happen. I've even voiced my disappointment with Chris here in the past, especially after the Mt Marion sale. I've seen a lot of ups & downs over the years.
I believe battery recycling is the future, but whether NMT will be a part of that future will all come down to the decisions the board & management make. Given that 3 out of 4 projects are dead in the water after blowing over $150M dollars, then it doesn't bode well for the battery recycling venture. If NMT couldn't get any projects off the ground after spending that kind of cash, then how much more is needed? What was the point of paying me a dividend if after a few short years I've got to give all the money back & more just to see a return? Will I see a return? I don't know anymore.
If you add in all the revenue that NMT missed out on when Mt Marion went into production, then NMT might have lost out on hundreds of millions of dollars or more!
NEOMETALS LTD (ASX:NMT) - General Neometals related news, 70699030, page-3910 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
So, they've blown $150M or more from the sale & lost out on hundreds of millions of dollars or more in revenue from Mt Marion. What does NMT have to show for it? A single 10tpd plant, that's it. It's not even an integrated plant, just a simple shredder to produce black mass because the Stage 2 plant is a demonstration plant only & it produces battery grade chemicals for potential customers to evaluate. It doesn't run full-time. Yes, there's MB, but even the timelines for that project get continually blown out & it's a small plant, a 2.5tpd plant from memory. There's potential there, but I want to see that potential energy being converted into kinetic energy.
So, yeah, I'm pissed off. Really pissed off! Not only that, I've come into a public forum here over the years here & defended these people. What was the thanks I've got? Just for them to throw eggs in my face. So I don't see any problem throwing eggs back at their face. Let's see how they like it.
Will you participate in every single CR for the foreseeable future just so they can keep on chasing rainbows & unicorns? That's what every shareholder is now faced with.
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