let's face it, Jambi is either a dud or management is for not...

let's face it, Jambi is either a dud or management is for not being able to secure an offtake partner for nearing on 10 years now...either way, what is certain, is that it smacks of incompetence to p!ss shareholder's money up a wall on an unviable project. of course the benefit for management is that they keep their jobs whilst they hoodwink the ordinary punters (i.e., the only mining that ever gets done is mining the market or our pockets. this is not isolated as there's plenty of other examples of incompetence regarding their current projects like Itapitanga.

now with Jag (their current toy), it was basically handed to them on a silver platter by Vale with the majority of hard work done. i believe that Vale needed to step-out of Jag back in 2019 given their local environmental issues with Onca Puma down the road. Although Vale is no longer the front face for Jag, Vale will still be involved on the back end of Jag's production. So all the current mob has really done, is sink a few more holes and handover to external consultants to do the rest. this is not to say that our management hasn't done anything, they have, what i am saying is that what they have done is not anything special and is what would ordinarily have been done

let's be honest with ourselves, we are all here because of Jag and the macro decarbonisation play and not because of management's pull or brand. I'm not saying that we can't get by without this mob in charge, what i am saying is that the risk for us is real and higher than if we had proven performers in charge. and if you're a one-eyed management supporter, then i suggest u go and read up on Mirabela and its Santa Rita play

finally, i thought the Chairman's address lacked constructive balance especially as to some of the missteps along the way. i think the Chair missed the opportunity to say that it is not all rosy and that there are challenges apart from covid (like sourcing a decent RC rig) however these challenges present opportunities to acknowledge wrongs and find better ways to do things or improve. I also thought there was a lack of talk from the Chair around the the challenges that lay ahead. the chair's second last paragraph is all emotive and lacks substance to back it up - i think there is a fair bit of fantasy involved. but then again the board is accountable for management's performance and this is what concerns me the most, that the board is not objective enough. i hope that the major shareholders are all on top of this, as they are the only ones that can ensure that that this mob dont lead us down the wrong path