CXO 1.09% 9.3¢ core lithium ltd

Banter and general comments, page-28517

  1. 6,483 Posts.
    lightbulb Created with Sketch. 2006
    Its an interesting question - ie. what is his job (or more importantly how is success measured). In the long term, its shareholder return via dividends and capital growth of course and as you say in a year or so, we will know more. But in the short term, IMO he has been bought in to:
    1. Build a team the can operate the mine, grow the mine, progress downstream and do something with our other assets (either explore or divest). Taken longer than i would have liked but I think (and time will tell) he has done that.
    2. Get the mine operational and to name plate - in progress but broadly on schedule based on what we know. Looking forward to the quarterly update on this.
    3. Grow the resource - obviously he cant take credit for last years results, but the $25m expenditure on exploration this year ticks a lot of boxes in my view
    4. Ensure financial stability - I know it wasn't popular but the CR certainly provided a strong balance sheet.
    5. Market and sell our product - telling Tesla the shove off was a great move. Why accept a crap deal? Selling the DSO (i think that was his decision)? meh could take it or leave it but it did bring in cash. Selling the extra loads to Yahua at spot price - fantastic work.
    6. Progress downstream - the lack of progress or lack of communication if progress has occurred is a failure imo. Noting one of the new guys will have this in his remit.
    7. Expansion of the processing facility - same as above - if this is not being progressed it should be. If it is, an update is warranted.

    Overall he is not flashy and room for improvement. But a solid B on the report card IMO.
 
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