Unfortunately, I think you are wrong.People like to blame...

Unfortunately, I think you are wrong.

People like to blame management because it insulates them from admitting their own bad choices. Whilst management have clearly made missteps, the chief problem here has been and always will be the asset itself. NAL is simply a very ordinary deposit. It is narrow-veined and carries a high iron content. Brett spelled out the key issues with the deposit in his 2021 interview with Alan Kohler which I’ve repeatedly pointed people to; Brett believed they would overcome the problems by blending the NAL ore with higher-grade stuff from Authier but lithium is a difficult mineral, it is never that easy. NAL was always going to be high-cost to mine, I’ve warned that numerous times on these threads well before they even started producing. The asset sent two previous operators to the wall, because it simply isn’t good enough to survive through the cycle.

So: holders will carry on blaming old management, new management, whomever - expecting new announcements to appear to magically halt the share price decline, etc. But at the end of the day, if the asset itself is a bit of a dud, it really won’t matter who is running it when the cycle turns against you.

I expect a lot of heat for being this blunt because no one wants to be told they chose a dud, but I’ve been consistent on these points for a long time, before production even began… and here we are.