Ann: Trading Halt, page-38

Page 10, Table 1, "Other" - just increased from 2 to 5 mln. Quick jump to page 81, Table 13, Pre-production capital requirements, "Other" - Various items including administration and capital purchases as well as negative cash flow in month 1 of processing. IMHO that's ridiculous. Mine spreadsheets are not very sophisticated but my overall knowledge tells me, retail shareholders future dividends are to be much lower then expected. Freeport did great job, their customers must be very happy clients now. Freeport used the weakness and inability of BOD to deliver in 2021-2022, then hit again in 2023. So easy. Happy or not, my personal standards in regards with the management and their performance are much higher than this. Still interested to see SPP and what's in it for the small guys. Now we know, why BOD were not buying and why every single surge was sold.
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With no intention to be more negative, than needed, retail have been stripped in three different ways:
- Current CR and dilution, much higher than expected before;
- the deal (royalties) signed with Freepoint Commodities LLC. in 2022.
- "Hillgrove has a life of mine off-take agreement with Freepoint Metals and Concentrates LLC. This agreement contains metal payable levels, treatment charges, and refining charges in line with industry standards." - page 80.