I'll tell you what happened to the EMI Navy. The equipment...

I'll tell you what happened to the EMI Navy. The equipment they used with their contractor was sub standard and not fit for purpose so they stopped operations. They intend of procuring new equipment once debt finance is over the line and pick it up again once they receive the equipment. Suffice to say given the time it's taking to sign off on debt finance (apparently) and supply chain issues with HME equipment world wide I'm sure it's a long time away before any sort of cash starts coming through.

Given where the company is at (on the cusp of being fully funded to operating apparently) I'm not particularly annoyed that the EMI has gone tits up. It's mining and shit happens. What I do find interesting and concerning is that management believe the EMI failure and planned cash flows being delayed isn't material enough to release to the market. MQs words not mine. I think that response is an embarrassment and insult to shareholders and just an attempt to dodge something that hasn't panned out. Uranium will be next to fall into that category I believe. Once toll treatment and debt finance are signed off I'll be out.
complete disrespect for shareholders not communicating the EMI failure which until it happens, is a failure. Expecting shareholders to forget about the EMI by burying it in announcements lol

Signing a toll treatment with a neighbour will hopefully put some winds back in the sails