SRK 5.26% 3.6¢ strike resources limited

Ann: Quarterly Activities and Cash Flow Report - 31 December 2021, page-8

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    Very disappointing quarterly. Something here just doesnt stack up. The words read well, but when you check all the dates against previous announcements they should be well and truly producing. So something is not going right here.

    GII must have been licking their lips when SRK agreed to sell the ore on a CFR basis! Since when did SRK have the capability or expertise to appropriately mitigate the risk relating to transport costs and congestion issues? They would have also needed to take out marine cargo and transit insurance which would have further eroded margin.

    Whats frustrating is that Apurimac is huge. I get the impression after reading the quarterly that Apurimac is more of a wait and see rather having any strategic importance of delivering cashflow in the short term. While last years shipments were positive, where are the others?

    I think the management team and BoD needs new blood. These guys have been around for a long time. While only minor, Farooq doesnt even have a photo on the website. Sure, they did well at spinning off LEL, but that opportunity fell into their lap. I am not going to praise management for the success of LEL. Ive look at a lot of lithium projects, and even the dogs are doing well (Im not saying LEL is a dog but rather anything relating to lithium is seeing increases in SP). Ive also looked at those tenements, and there is still a lot of risk to be managed before they get anywhere close to production. In my view 'nearology' to other world class tenements isnt enough.They will also miss the second wave of current developers coming online between 2023 and 2025. It is nearly impossible to get your hands on exploration drilling rigs in argentina at the moment. I will be very surprised if LEL can commence exploration drilling in this quarter,

    Im just ranting due to pure frustration.
 
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