My take on the current state of “Jupiter”.
Positives:
A) Grades, Great.
B) Tonnages, Great.
C) Location, Location, Great.
D) Being Sovereign risk free. Great.
E) Situated between to major processing plants (Iluka & Lynas). Excellent.
F) Low strip ratio of product, Great.
Negative: (Just a personal opinion only).
I don’t believe the Mets are going to live up to expectations. If it did, I am quite sure the BOD will be trumpeting it as they are doing with the Grades and Size of it (Quantum) @ Brothers. I would be glad and ecstatic to be proven wrong on this point.
Reporting nothing on Mets is being seen as a negative by the market and is reflected in our share price.
Furthermore, I don’t buy the justification or excuses put by the BOD for not providing or mentioning anything about it (Mets).
Especially, when AR mentioned this a number of times, whilst PL was part of the team.
(Metallurgical test works has begun with initial results expected next month. Which was supposed to be, if memory can recall at the end of April).
As far as the sales of tenements goes, I am very disappointed, gutted and “P”ed off by the whole thing. And I am certainly not a happy chappy.
I would be supporting any notice of motion of future sales of assets, not passing or going through without shareholder approval.
If this BOD thinks they got a good deal for Riley, they are sadly mistaken and It’s got me very suspicious and on guard about them.
Please do your own research and DD. This is not meant as financial advice. Just observation and opinion.
