Ann: Offtake Agreement with Angola's Largest Food Aggregator, page-105

Yes, it seems odd the way he reveals certain things in public interviews or social media like that. Other companies do it as well though. Elon Musk does it to a much greater extent with a multi billion dollar company. IIt's not just Lindsay doing it.
While some things are better to be announced through the ASX, like this delay to commissioning, it probably is better to hint at other things when they are not ready to be announced in order to keep us better informed. Eg when he hinted about the green ammonia in an earlier interview by saying shareholders had no idea what was going on in the background. I'm not sure if the ASX would allow a comment like that in an ASX announcement but he was able to say it in an interview. By dropping hints like that one and more recently about Carrinho and Deutsche bank, it keeps us at least a bit better informed that something positive is going on in the background before it's finalised and able to be released in an ASX announcement. He did announce that he was working on non dilutionary funding but probably couldn't name which lender he expects will be selected until the deal is done. Same with Carrinho. I don't mind those hints ahead of deals being finalised, as long as they are made public.
I think we all expected the delay to production with the late receipt of the environmental approval for the new site and the delay in getting the EPCM contract. Both of those led to the delay in the start of earthworks by several months. That in turn kept the sp down well below where I think it will have otherwise been so the market had already priced it in.
I'm not sure it needed to be priced in though. The mine only needs to run part time to keep the plant operating. The plant capacity is significantly higher than the DFS expected demand for the first few years and the plant was due to be expanded when demand was expected to get closer to stage 1 capacity. I think demand, especially with this offtake partner is going to be higher than the DFS allowed but with extra capacity, the plant still has plenty of time to produce all of the first year's fertiliser even with a one or two month delay so I don't think the first year's profit would be affected negatively and it could be higher than the DFS assumption. We don't need to care about what time of the year growing season is because Carrinho will buy all of the fertiliser through the offtake agreement and it will be stockpiled until needed at the start of the growing season. We get paid the same through the offtake regardless of when it's distributed by Carrinho to the farmers.
I also think we have had plenty of hints that demand could be higher than DFS assumptions and that expansion will be brought forward at a very small cost. Bringing forward expansion means bringing forward higher profits. The market hasn't priced that in yet. The market hasn't even come close to pricing in the more conservative DFS assumptions. The market normally looks forward and prices in next year's earrings and beyond. Based on next year's earnings and strong growth in earrings beyond that, the market cap should be sitting on at least $350 to $400million by now. The market is still heavily discounting ahead of funding. That seems really odd to me with the binding MOU. Maybe we give the market too much credit sometimes. The "market" seems to currently be controlled by a few traders accumulating ahead of news and selling into it. That can work for now - until it doesn't. At some point the sp will take off and leave those traders behind. That's well overdue considering the current very big discount and production getting so close.
Im looking forward to another big run like the one in 2021 that took the sp from 5c to 21c in just 4 months. No one expected that run when the sp was at 5c and looking incredibly weak. Not even me and I'm possibly as bullish as they come with stock. A run like that seems much more justified now than it did then. Especially now that a new bull market seems ready to spill into the small caps and this company is so much closer to production.