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14:43
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Originally posted by Amused observer:
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It is not for me to comment on your initial statement however I will offer my own opinion in response to your subsequent question. There appears a body of evidence showing one chronic symptom, the continual shortfall of performance of the company no matter under who's stewardship it is and that goes back a long way, as far as MMK days. Over that time there could be many excuses made for the lack of development progress of the company or even the lack of market revaluation progress but if you think in terms of a junior mining explorer then it is progressing albeit slowly and not at a pace that the market likes or is toleratant of. Also there was some messy cleaning up of previous ventures that cost the company time and money. In the past few years there have been a range of ideas proferred by AEV as to what it could do and some of these incvluded the gold tenements in WA and some included phosphate tenements in NT and some referred to externally related opportunities (i.e. Novaphos) but none got to a point of defining an actual plan and more importantly a broad plan that included other senior parties seeking an active participation per se. Until now. So what AEV has laid bare in broad terms over the last few months is probably more definitive than has been seen since pre-GFC (2009 period) and what has been put forward is not only viable (I tread cautiously here) but is executable. It also has greater momentum due to the fact that two substantial parties have expressed financial, operational and oversight participation interest in the disclosed broad plan, being Aleees in Taiwan (TWE: 5227) and the Northern Territory government (for those curious as to more detail do a search of 'NT' AND 'infrastructure'). In addition the current proposition puts AEV on the Federal Government radar for one funding opportunity, NAIF and if there are classification changes then possibly also Critical Minerals funding but that has work to do at the Federal level first). AEV to date remains a junior mining explorer so it does not have a workforce at its finger tips to perform many of the tasks required to progress the above broad plan and it is highly dependent on engagging external parties to do most of the heavy lifting work for it, for a price. This it has done, and will continue in the foreseeable future, as can be seen in the ASX announcements of late. Is it enough? So engaging other parties to do work parcels of various shapes, sizes and forms for a single ASX announcement is one thing but to progress a strategic intent with dilgent attention to detail whilst providing oversight of capital raised and deployed to achieve the necessary results and inform the market market along the way wiothout losing any competitive or commercial advantage as required under ASX Listing Rules is a balance usually garnered with years of experience but AEV is still just a junior mining exploration company with a lean and somewhat immature Board in this regard. These early steps using external parties should be able to be managed effectively by the current Board and staff it has available, it claims it has an experienced PM in the background somewhere for operational activities and if a true PM then put in place a PMO for project governance, plus there are two lawyers on the Board who could offer legal, contractual and compliance services on a fee-for-service basis and the Chair has anengineering background. It should be enough but it isn't. The Board composition most likely needs some fine tuning with perhaps some removals, some additions and some modifications in regards the Remuneration Plan. The current share register and associated debt is somewhat problematic as well but perhaps that be left for another day. The current stewards of Avenira could make it work, yes. But they need help, somewhat urgently. So for a shareholder what would be a good move? Change the timeframe...just wait and give them more time, drive a Board spill & refresh, exit fully paid ords and buy renounceable options...any of these just delays what is ready to occur now and potentially the initiative may be lost if not managed and driven effectively. For shareholders all of that is well and good but if the broad plan is not refined, managed and progressed to drive value in to the company then everything above turns to dust and it joins all previous attempts that ended up on the road to nowhere. Keep in mind all of the above is my opinion only, many others may digress, dispute or offer disparaging remarks. They are most welcome to proof read and correct where they feel the need to make sure the internet remains the sole and single source of truth.
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Wise words.
(20min delay)
