The problem with your strategy of forgetting about everything are multiple...where to begin
The recycling was planned and announced as partnerships, not one but apparently 2...are you suggesting that we got recycling to a point of partnership with 2 company's and now the involved possibly employed staff simply sit on their hands? Why enter the partnerships? Why talk about and even cost up recycling plants ...enter partnerships then drop it? Shows a staggering lack of commercial insight by BOD if that is the plan.
All the Fringe Products...Forget about those too? Really. Why did we employ and still employ staff to specifically manage various 'fringe' projects if there is no value to them now that we are years away from a BAM facility and even then it won't be in Aus. Again, get ris of the staff if that is the case. If not then WTF are they doing to justify their salaries and bonuses? Where is the material progress reports on all these 'fringe' projects? If not why are these staff being kept on? If the intention is to have them sitting their idle until BAM facility god knows where and when then again it is a horrendous inditement on BOD commercial insight and management
I actually agree the patents won't change the dial at all for us not now possibly never ....and Howard himself has said they are 12 months plus worth of to-fro away. They add zero value to us without a BAM facility in any case. So why continue wasting money on them. If a competitors processes are likely to be affected...do you think they are going to simply let the patents go without the mother of all fights and millions on lawyers on both sides..... Again perhaps our BOD can explain the commercial benefit to EGR given our BAM is many years away....and thats assuming the next site is not approved and rejected at lease option or plant approval stage.
Is Innogy a 'fringe' project...do we forget that too despite it being "list ready"...or is this just another BOD project idea that cost a fortune to get to launch ready status and then gets pulled....do the BOD serious expect us to believe its not the right "time' to explore high potential nickel tenements? Clearly all those new nickel juniors around the world have got it wrong but our BOD have it right.....or are they saying nobody will be interested in Tanzanian tenements in which case that doesn't say much for Epanko, Meralani etc does it. So maybe they can share when the right time 'is' according to these geniuses at adding Shareholder Value
Again you are right...we will be finished if we don't have Epanko up by the next AGM.....do you serious expect that.... we have not finalized framework ...then there is a little matter of Finance...and Relocation...and re-djigging for updated equator principles... You tell me Over 10 years to get to this point with Epanko and you seriously think they can get everything pretty much needing to be redone .....finalised in 10 months?
As for US BAM facility ...again...they killed Kwinana that cost over 10m to get to that point ...because they 'found somewhere better' ....but several months later they haven't made ANY material progress on this...for if they had it would be shared to the market.....so lets assume its still nothing. I would have thought the US BAM facility with a HUGE named partner stumping up the funds to build ....should have been signed within days, weeks....of pulling the plug on Kwinana ...but apparently they have made no MATERIAL PROGRESS.
And then you finish with the EGR word that has been the BODs goto for 10 years SOON.
It is seriously like they made the Koolaid taste so good that even after 10 years and multiple disasters and death/f-ups on projects all around that some keep sipping from the Koolaid cup expecting a different outcome from all the previous times...
I for one will be glad when each and every member of our BOD have either resigned, been removed, or had to be taken away to a retreat to overcome morbidly excessive consumption of food and beverages whilst on foreign trips to pointless seminars symposiums and conferences at our expense.
I wonder where Uni is with his stupifying $4 target for next week.
Anyway ...peace to all and good luck to all. I will circle back after a month or so and pray for progress...as we know thoughts and prayers is how things get done....here anyway
564xxl rant over ...surprise me Andrew and achieve something ...I will be the first to congratulate you ...after i get over the shock
EGR Price at posting:
20.5¢ Sentiment: None Disclosure: Held
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