Butz is soright-the crying and panicking is unbearable. The ignorance displayed recentlyis in contrast to the rational commentary of the past.
How about afew facts:
Thedownward trend in the SP is occurring on minimal turnover eg less than $30,000worth of shares were sold today. This trend presumably reflects the lack of newbuyers and the impatience or overweight position or whatever of existingshareholders.
Elli-Therefinery process has been completely changed and a staged process foreshadowedthat reduces the risk and speeds up production. We wouldn’t have had the powerto carry out what the Feasibility Study prepared by previous Management hadenvisaged!
Elli andChock- Why would you want Management to have at all times an updatedFeasibility Study prepared for release at a moment’s notice when that costsmoney that GBE doesn’t have and would have resulted in wasted money if it hadbeen done over the last 2 years? Accordingly, one would expect that the greatbody of work would have been carried out but there would be loose endsrequiring finalisation before release of the Feasibility Study. This may includediscussions with third parties that couldn’t meaningfully be finalised untilthere was an MDA. I would imagine that anyone likely to be involved would have beensceptical about the Malawi Government’s ability to perform.
Charles’ “surprise”related to the speed with which ultimately the MDA was executed-in contrast to theglacial pace that has existed on anything over the last couple of years. Iwould expect that it takes longer to arrange meetings in Africa than it does inSydney, for example, so he would have been peeved at losing a few days by not beinggiven earlier notice-particularly given the frustration expressed by HC posterson the delay in release of the Study. I personally would prefer the FeasibilityStudy to be compelling. The Quarterly Report should be interesting-I wouldexpect at least a timetable for release of the Study.
If the positionis viewed from the standpoint of a potential investor, GBE is in a worseposition than in August 2021 when the Mining Licence was granted. Then therewas the expectation that the MDA would be shortly executed and there was aFeasibility Study available relating to what was contemplated (the fact that itwould have been disastrous to have proceeded in accordance with it is besidethe point!). Now the updated Feasibility Study is awaited and there is moredoubt about the ability of the Malawi Government to act appropriately givenwhat has happened over the last 2 years.
The changes to the BT loan arrangement arebeneficial to shareholders. If capital is raised, the BT loan can be repaidresulting in less dilution to shareholders. 
(20min delay)