That's simply because those first three points haven't occurred as yet..... Uncertainty reigns!!!!
Here's the full slide from the AGM Preso of two weeks ago. As all will see, its under the heading of "FY23 Outlook".
A rather strangely worded slide this one...... One could even ask, 'Deliberately so.....'????
In the Chairman's Address at the AGM, BO stated - "Our priority now is to complete this review, release our updated business case, progress approvals work, and progress discussions with our equity and debt partners in relation to the additional funding we expect to be required to complete the Mardie Project."
David Boshoff also stated - "I am also keenly focussed on the optimisation of the remainder of the Mardie Project. This is my focus in the near term, to finalise the cost and design review, supporting our CFO Kerryl Bradshaw to secure full funding for the project before the end of this financial year. This work includes reviewing the cost, design and delivery methodology of the remaining construction works. My initial focus is on critical path packages, including contracts such as: • The causeway and jetty pad; and • Roads and intersection upgrades to improve access to site, protection of the ponds from inland flooding, and enable improved mobility during wet season. Discussions will recommence by December with our debt and equity providers and potential new investors in relation to the additional funding requirements to complete the Mardie. Offtake discussions are ongoing for both salt and potash products."
So until the company updates on the Review and then confirms adequate funding (a recent media article I read speculated the funding could be short by $400-$450mil in total) a cloud will hang over Mardie and the BCI sp.
We know BCI now has the $100mil CV, so where is the balance coming from?
As DB stated, the answer is "Debt and equity providers and potential new investors", so lets see what the final breakdown is. The SP may also currently be being 'fluffed up' to allow another SPP.......
Anyway, only time will tell.
Let's just hope that under DB's reign as MD, the communication to shareholders improves substantially when compare to that of late, and is more 'clear and concise'.
To be honest, the shareholder comms from the company has been nothing short of abysmal since AV departed.
(20min delay)