The announcement and market response. 340% increase is nice, but no good if you can't get it out of the ground.
The DFS was put on hold for THIS? like seriously, 23 page document saying lets go to 5mtpa we think its a good idea.....
Yes there are good things underway and in the pipeline but it wasn't as juicy as everyone expected and this is reflected in the volumes traded.
The MoU with GFG was the best thing since the PFS.
Yes management shouldn't be concerned with the daily pips, but they should be concerned about the SP not being close to strike price of options. They NEED the options for working capital IMHO otherwise they need to find that capital another way, that other way is dilution.
As much as this project is undervalued, has all the things going for it etc. etc. we are here to make money at the end of the day, at the moment the only way is by appreciation of SP and its bleeding at the moment despite everything going for the company.
To be clear on what I personally was expecting from the impression I got from management was basically a revised PFS level document, something substantial with the increases, a timeline of key dates like they used to, an update on how recent engagements etc. a complete update of the project. Most of the information is there if you put it all together. Why didn't management?
Were my expectations too high? All their presentations made it sound like this great thing, like a woman saying she gonna touch your PP and then gives you a hug at the end of the night.
How many "partners" are in ongoing discussions, what is the time line for DFS, production etc. is it still Q4 2024? thats next year, took them 6 months to write 23 pages, many of which are "already completed during pfs"
to summarise,
great project
undervalued
great team
currently poor execution- capability is higher
tell us whats going on and when
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