We were not successful in the shortlisted advanced offtake discussion.
After years of being aware of the limitation, only now is the company looking at an alternative flowsheet for rare earths, highlighting that the processing of rare earths is not profitable under the current flowsheet.
FEED will be delayed as a result of the above as I assume so will be conversion of the LOIs to actual committed funds.
Management should hang their heads in shame!
A shake up of the Board and management is needed.
Insiders have already sold so the price may actually rise on the back of this despicable quarterly.
ASM Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
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