Capabilities of the KMP, page-13

All very valid points , mate .
The Shorts in the market have known this for well over two years --that ASM is in a "hiatus period " at both the Korean Operation , and at Dubbo .
The KMP is reliant upon rare earths feedstock from Vietnam ( limited supply ) , so has to focus more on the Titanium Alloy production .
Dubbo ---our ultimate source of feedstock for multi other refined high value minerals ( rare earths , zirconium metal , hafnium , niobium ) -- well , we are in the hands of Hyundai Engineering to draw up the Plant Design --an 18 months Project , finally SIGNED on the 9th Jan 2023 , and not due for completion until the 2nd half of 2024 . ( as an aside , we are due for an update on Stage 1 this current Quarter , but that's an excitement level of zero !)
The Australian Fed Government is "showing faith "in Dubbo with the Grants toward moving the Toongi Infrastructure forward ---and thats all they can do at this stage , without completed Plans from Hyundai . Contrast that with Iluka and their Rare earth development at Eneabba in WA , where the Auistralian Fed Govt made a $1.1 Billion construction loan !
And furthermore --being now "tied to "Hyundai and South Korea ...ASM will be more reliant on the South Korean Govt ( hopefully , POSCO driven finance and the FED Govt here ) , to commit to a combined large Funding Loan grant , which will be the "nucleus"that attracts the remainng investment capital needed .
The other Funding route --which might have been explored , but seems "off the table "at this stage because of Hyundai ,,,is tapping into a USA major manufacturer ( Aerospace, Auto , Engineering ) --to take advantage of the huge loans on Offer under the Biden Inflation Reduction Act , from the USA Dept of Energy .
I am sure the Board of ASM are all very "aware "of these issues .....but IMHO , its a big issue that shareholders are not informed as to what/how /when/ and who these issues are being addressed . We have seen great photo shoots of group meetings , some led by the late Simon Crean ..but progress on outcomes should be one of the Board's own KPI's ! Again ..these motherhood statements issued by Executives on restrictions on release of information because of "commercial in confidence " discussions ---can only cut the mustard for so long . These "template answers" run out of use by date authenticy !
This is obviously a complex situation , and drawing all the threads together will take time and patience .....but , in a time where there is barely two days go by , where there is not an article of growing universal demand for critical metals/ rare earths , there is a need to "share the journey " with shareholders .
We seem destined at present , to live with discussions like this , which are nothing more or less than educated guesswork .
When you see a great product ( technology and mining ) and a seemingly great future more at snails pace thru a combination of self inflicted management decisions , and small company inevitable growing pains within Australia .
One wonders if Andrew Forrest had a hand in this Project , or a JV had been formed with the likes of an ILUKA or Wesfarmers , where it would be today .
AIMHO ... merely a rant , that achieves no more than releasing a little of the frustrations that grow over time ,