Firstly your mate AM, 2/11/23 change in substantial...

Firstly your mate AM,
2/11/23 change in substantial shareholding, buys 750,000 shares on market for $44,621-71c, taking his holdings to 17.8m shares. Average buy price 0.0595 cents.

22/11/23 resigns as a director, 20 days after buying on market, why??, once no longer a director and not being a substantial shareholder, doesn’t have to declare sales of any shares, not saying he was selling.

Not being a geologist, but it appears to me that it is the grade that is killing them, if they can’t lift the grade, then it doesn’t look good, can’t understand why the grade is so much lower than the average grade that the exploration drilling, and metallurgy test work said was there, it is slowly improving from the stopes, but needs to get above 7%imho, for them to have a fighting chance.

Comparing the last 2 quarters, there seems to be some big cost blowouts from Q1, to Q2,

Production Costs Q1 22.442m
. Q2 44.178m, thats a 100% increase, between quarters, for marginally less lead sold, and equal silver sold.
Production costs is a very wide grouping of expenses, would like a break down of them, but that won’t happen unfortunately, maybe invoices held over from the previous quarter??.

Staff costs also increased from Q1 to Q2 by approximately 40 %.

30/10/23 Q1 activities and cash flow report, under heading Outlook, then 8/11/23 Operational Update, both these announcements forecast a 31/12/23 cash balance of $15-25m, and we end up with 3.8m,you could drive a F*cking Freight Train, between those two outcomes.
I can’t understand how legally forecasts like this can be made, and the outcome is so different, this lot looks like they would make Nigerian scammers, look like Fu*king Play School,

I have no idea where this will end up, if you read today’s cash flow report, the bit where a company has to answer questions wether they are a financially going concern,taking into account previous quarterly expenses and current cash position, they answered N/A, not applicable, as if to say that they believe they have enough money to keep going.
Todays announcement states that concentrate was shipped 9/1/24, so maybe the proceeds from that will keep the show on the road, who knows?.

As of the last update to the Top 20 shareholders, last year’s annual report, Top 20 held 65%, so there is some large pineapples been driven up their ar*es, for now.

I am hoping for a good outcome, but that’s just hope at this point, I can’t understand all the effort and money developing a bran new mine, and it doesn’t get past first base, if that ends up being the final outcome, what a complete waste, it would make you wonder if we have the capacity and management skill set in this country now to achieve anything.