*** Dudson

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Crabby33

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23/03/23

22:36

Post #: 66932129
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Originally posted by scared bear: ↑

So we put a hold to the dfs and do this optimisation study.
Under the original PFS we had an annual output of about 2.8 million tonnes, and now we are aiming for 5 million tonnes, under that PFS there was scope for expansion, so why was the DFS cancelled, it would be completed by now, with the possibility of funding being in place.
At the time the rationale for cancelling the DFS was that the market was asking for additional tonnes, fair enough, but why weren't any of these interested market participants asked to contribute costs for this delay, seems the only ones suffering are the share holders.
As far as I can see the only thing new in this so called optimisation study, is the resource upgrade, there is no timeline for DFS completion even though a tonne of the work should be completed by now.
I have watched the proactive video interviews with Tim Dobson he seems Knowledgeable, but seems to lack the fire to push things through, at this stage I think we need to push hard to get the remaining study's completed, all these consultants and advisers are on hourly rate and need a rocket up them to get things done.
I have faith in the resource and it's time in history in regards to the green movement, but it seems to me we should have stuck to our original PFS and it's timeline. It seems we are stuck in limbo with a low market cap, with even the likes of the disaster that is HIO is valued more than us, still good value here but management needs to be more accountable.
I have emailed Gemma and like others have failed to get a response which is very disappointing, again accountability.
The consolidation seems to me like something they wanted to do, and probably needed to be done at some point, but there was no consideration of the share holders, again the share holders copped it, it seems management are forgetting they are working for the share holders.

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*** Dudson

MGT Price at posting: 59.0¢ Sentiment: None Disclosure: Held
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*** Dudson

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