Class Action/Lawsuit against SO4/Board, page-225

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Bullrush007

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01/02/22

12:37

Post #: 59271703
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Originally posted by Gazmon: ↑

This may not relate to a class action at all, but they are details on what happen to our money.
In the last week have spoken to two sparkies who worked on the project . These are some comments they made:
1. The Civil contractors had no experience in this type of work. They lost at least two excavators in the mud through lack of understanding of the environment in which they were working.
2. The electrical contract was "Cost plus". Without a hard dollar contract there is little incentative to acheive decent productivity. I surmise that other contracts would have been made on the same basis
3. There was a LOT of wasted $$. eg. The distribution boards were airconditioned (this occurs nowhere else in the Pilbara). The Switchrooms were twice the size of others in the Iron Ore mines in the Pilbara. Not only was this not required, the transport cost would have been massive
4. They did not seal (ie. put covers on) the concentrate tanks. Nor did they build the storage shed to be sealed. With the frequent willy-williys, the product was full of red dust
5. They could not remove the salt from the product effectively. I don't know the issue causing that.
6. The workforce had to be evacuated by helicopter after one cyclone came through as the camp was flooded. It seems the accomodation was built in an area subject to flooding.

These issues were relayed in only a three minute chat. It would appear there was major incompetance in the engineering.

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false reports

dont get distracted

class action! Official company announcements lead us to believe that all was on track to achieve nameplate production

yet the company was in possession of an independent technical report that may have said otherwise which was not made public

huge ramifications

SO4 Price at posting: 31.0¢ Sentiment: None Disclosure: Held
8 Upvote

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Class Action/Lawsuit against SO4/Board, page-225

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