Anybody Here?, page-5

i think there are a couple of near term things that will impact trading:

• half yearly report : I think technically due this side of 1/3/2023
• funding arrangements : would have been nice could these been commented on in half yearly else going concern stench will be exceptionally loud. Nonetheless, was scheduled for Q1 CY23 so March
• relocation cobalt/gold separation plant : I think its coming from ill fated Fitzroy Crossing region in which case transport will either be very expensive (ie coming via Perth) or delayed (ie highway unlikely to open this side of end March). Given track form, unlikely David will announce anything further about this delay (Personally I think this will be revealed as significant to the financial model that is supposedly being pushed around...)

I also think:

• Wet season in the NT will be cause for zot activity and zot information flow;
• Limited banter in last quarterly about steady state Fe delivery to Darwin which suggests its either (a) not cash positive; and/or (b) not possible. I think if you were to lift the veil of truth I think the train leg is proving logistically difficult. For some time they talked about not having enough containers to establish steady state ... I think this still true;
• A nearby Fe mine (Roper River) has had its environmental issues of late ... maybe that concern is spilling over onto Tenant Creek operations;
• Possibly the Alice Springs fiasco too is causing some grief.

Could be a million things going wrong but I have no doubt David will be abreast of some amazing steed arrogantly (... ignorantly??? ) riding head on into the challenges of financial reality. The only glimmer of anything different was the recent appointment of the chair ...

Have a great day.