The Hot Copper Heathan. Yes - I have been under a rock, like...

The Hot Copper Heathan.

Yes - I have been under a rock, like every other holder giventhe re-engineering we’ve had to achieve at an integrated site. I’m big enough to say the events of 2021 certainly resulted in my timelines being skewed. That said, committed to the project and still believe it is fundable and will provide significant upside. Its going to be tough given the cost pressures being experienced however the engineering work completed over these last number of years provides us with a solid foundation to get the capex structure to a fundable level.

Predictions, delusions and bias sounds an awful lot like‘high conviction’ investing? That investment mandate has served the balance sheet well over many decades of investing in junior resources. Not knowing your personal circumstances I couldn’t possibly comment however if I recall correctly you were all in on TNG back in the day. It’s hard to ride something out with high conviction when you don’t have that scale to have diversification. I see you are yet again out of TNG. Run for the hills…Ando, stay in those hills as this one just isn’t for you.

No sentiment change towards PB. All I said was he is running out of goodwill but somehow you find the worst spin in any situation. To clarify, the reference was made to his base rem and LTIs vs value delivery to date. I’ve got no issue with an MD being on a wicket like his but patience is wearing thin with the lack of deliverables. His 11.8m performance rights are mostly structured around the old Darwin/Mt Peake two site set up. At some stage he’s going to have to come back to shareholders to sort that out and I don’t think the goodwill will be there unless he can clearly articulate a true path to production. Ie) swinging in the breeze.

Anyway, great to hear from you again.