CXO 8.79% 8.3¢ core lithium ltd

Hey Dancing, not directed at you. it's all good, we go back over...

  1. 594 Posts.
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    Hey Dancing, not directed at you. it's all good, we go back over 6-7 years since gxy. Bottom line, the CEO has screwed everyone. I see a big CR staring everyone in the face. My maths is often different to how others see.
    on 1 Jan the company had $125m in the bank, DSO from December sale added $21m = $146m, end of June there's $152m in the bank. You guys do the maths. The company shipped 18500kt but 3500k was shipped to Port in march. The company produced 15kt for the June qrt. They've also have allocated $75m for Bp33 and exploration. If the spending eats away at production like it has, shareholders are facing a CR heading into the FID q1 2024 and the shorts walk away laughing.
    The days of gxy for those that don't know, was the 5th largest LCE producer in the world. Tianqi ( chinese lithium producer) plant is ex- gxy. For two months I phoned in, a Muppet called me back saying the chinese would not honour their contracts, the company was selling at spot price under cost, the CEO ( Hollywood) was telling a different story, they had a CR and shorts (14%) walked away happy. Core CEO is Hollywood no 2.
    There were opportunities elsewhere with divs of 10% I added cxo instead. They have increased 60% with divs while CXO has lost 50%. My mistake.
    CEO, instead of a company needing improvement, he painted cxo as a sh!t show. Projection for 2025 was printed as important ( causing the damage), the small writing says 2025 projection not definitive (last paragraph). Why do it? Does he have a hedge fund account? Everything is now dependent on bp33 FID which the CEO is waiting on a 'positive' outcome before committing. If not positive, what then? Who's causing uncertainty and shareholders damage?
    SB didn't design the plant, primero did. Alot go into a DFS, it's not done by SB. Mapping and drilling samples would show the result, not made up numbers as being painted. The drilling samples show quality of ore body, not the 14 weeks of weathered ore put through the plant.
    There is always a market selloff in SEPT and I must organise (opportunities)for that, you all do what's best for you.


 
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8.3¢
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Mkt cap ! $177.3M
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