The E15 shaft to level 10 has been under construction for it seems like forever and after redesign (originally to level 8) and numerous delays it seems that the company can't confirm when it will be complete and commissioned.
I can shed no light on this matter except the following:
23/4/2018. HK Investor presentation: Slide 8. "Lower Shaft Steel delivery delayed (QA/QC
issues) until July 2018."
26/7/2018. Q4 production report. "Fabrication of lower shaft steel work continued with deliveries expected in July."
It is interesting that MML usually reports on the last day of a quarter or as near to this as possible which is not at all timely reporting but just within the rules of the ASX. Yet the latest report was issued on 26/7 and indicated that lower shaft steel work had been continuing and deliveries expected in July ie in the following 5 days. Questions.
How would this statement have been worded if AT kept to practice of reporting on 31/7?
Was the release of Q4 production report brought fwd so that a further delay to the fabrication and delivery of the lower steel work didn't have to be reported because the company knew that the April statement in the presentation was going to be missed?
What is the current expectation for completion of the E15 shaft?
What are the quality issues with the steel work? How are they being resolved? At what cost to the company? Are they still on going? Why was the work not reassigned to an alternative fabricator immediately if company A's work was not satisfactory?
Why has the steel fabrication been left to the last minute and is now the No 1 issue delaying E15 shaft completion because of unspecified quality issues?
Why can't AT be upfront with shareholders for once in his life? Compounding this by re-employing lier-in-chief PHB who lied to shareholders continuously for all the years he was CEO?
Finally. Because the company seems to not know when the E15 shaft will complete, this means there is difficulty with giving guidance on FY production for 2018/19.
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