This post is in response to todays general banter in the LPP battery/Phosphate news thread, but I’ve posted it here because it’s probably a bit lengthy and not altogether on topic in that thread.
I’ll start by saying I’m a believer in LFP batteries and their demand, but not in this CEO and Board or the way this company operates and how it treats its investors like mushrooms.
There’s an old saying ‘hope springs eternal’.
I see a lot of false hope on the AEV forum. In recent times people have been suggesting:
- accumulation
- the BEOT is buying in
- the trend is heading up; and
- the SP is going to pop.
IMO none of these things are true. Instead I’ve seen nothing but constant selling and getting out and low volume days for most of this year now. In fact the sell-off started pretty much after the market realised no DSO deal was going to be cemented in Q1 and no digging and shipping would happen in Q2 - both of which our CEO proclaimed late 2022. In short, this has been another disastrous year for our SP and I’ve no doubt this same disappointment will continue for the remainder of 2023.
I sincerely feel for all investors who hand over their hard earned in the belief a CEO is going to do what he say’s he’ll do, then betrays them by achieving next to nothing.
Personally, I’m not impressed with all these conferences BC attends. He’s been flying around going to conferences for years now and what’s he achieved for his investors? SFA - that’s what! IMO all he does is present the same old PowerPoint for a lousy 10-15 min - no doubt feeding the audience the same BS he feeds to us, before, I would imagine, eating canapés and sipping champagne.
Meanwhile the SP continues to deteriorate. The chart to our right shows the markets sentiment regarding AEV. The steady and relentless decline can only be reversed with real NEWS. And I don’t mean the usual busy-work BC occasionally presents to the market and which fools no one. He needs to start delivering on his KEY OBJECTIVES - that’s the only news that will stem this bleeding and convince the market that we are actually going somewhere.
I admit I should have jumped ship when the SP did one of its mini pumps on the back of the last load of BS BC feed the market almost 12 months - big mistake on my part.
Let’s be realistic here.
- A MC of <20mil is simply beyond pathetic.
- In the 180 Markets interview, kindly posted by Barry81, BC proclaims “we are the largest high-grade phosphate resource in Australia”, yet he can’t do a deal of any sort - and that’s with what BC states are “some world class off-takers” and the NT govt. in his corner giving AEV what he describes as the equivalent of Major Project Status!
- In the same interview, BC said in regards to the FID “we are focusing on that towards the end of this quarter”. Folks, there’s 7 business days remaining in Q3. Does anyone honestly see BC delivering on a Project Investment Decision in time? Honestly? I sure as hell don’t! By the way, my jaw hit the floor when the interviewer said to BC “you have hit every timing milestone”- just unbelievable!!!
- I can see very clearly how the next 6 months are going to play out and it won’t be good for investors but will turn out great for BC and his cronies. There’s a precedent here and it’s been happening for the last couple of years now and it will happen again this year IMO. Check out BC’s MO - it’s there for all to see.
I know my posts may come across as pessimistic on occasions, but I’ve been here a while now and I’ve seen the same pattern from our CEO and Board too many times. I don’t believe BC will meet any of his timelines again in what little time remains of 2023. If AEV is to have a chance I think we need a new CEO. IMO the lethargic Brett Clark, with his misleading timelines and complete lack of significant achievements, has completely and utterly blown it! As I see it, if he remains the CEO of AEV then 2024 will just be another 2023, 2022, 2021, etc al, all over again.
I notice 0.009 touched again today. When real news (and that means milestones) fails to eventuate I think we’ll drop below that soon enough. Fed up.
