Ann: Sunstone appoints Patrick Duffy as Managing Director, page-18

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borrks

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25/03/24

15:57

Post #: 73046836
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Originally posted by Wazz101: ↑

Actually this has come a bit late in my opinion.

We should have had a CFO / CEO to manage the exploration process earlier in the piece, to better manage the pathway and costs between drilling / exploration on the one hand and funding / realisation of value on the other. We have great potential but require significant funding to de-risk and sell / develop.

I articulated this a while back in another post, which didn't receive universal acclaim!

We have 3 potential mines to develop and no funds, so is a really challenging brief!, hence my comment about lateness!

Patrick has obviously argued the commercial case from a NED perspective and has led to this scenario; not only being on the executive but to actually leading the executive! - this will steer us down a path with a better balance between commercial and geological outcomes, which is what we are crying out for as shareholders.

Actually I sense a couple of hidden potential scenarios here, let me try to elaborate - either

1. where someone potentially has committed to an investment scenario of a capital injection of some sort, but with the pre - condition that Duffy is appointed CEO or
2. we are looking at a development scenario whereby we think of bringing the prospects to delivery, rather ( as MN has often stated) than to exit before development.

I'm looking forward to the next couple of chapters unfolding as to what is going on in the background and how the strategy unfolds.

I have no inkling as to either scenario, but either way I think this is a great step forward, assuming MN is on board and that we will keep the team intact. etc. etc.

Either of the above 2 scenarios are great news for us as shareholders, be it short term funding coming to the party or medium term in that we are going for the long haul and that will unlock the full potential of the whole tenement.

Either way this is just the catalyst we have been crying out for.

Can't remember if I topped up or not, but now is the time!

GLTA

Wazz

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Agree its probably 12 months too late BUT better late than never. These things are never perfect timing and its challenging to let go of the reins. But well done to MN for removing the emotion and making the hard logical decision.

Takes both guts and good clear objective judgment to do what hes just done.

STM Price at posting: 1.2¢ Sentiment: Hold Disclosure: Held
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Ann: Sunstone appoints Patrick Duffy as Managing Director, page-18

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Ann: Sunstone appoints Patrick Duffy as Managing Director, page-18

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