@ChrisRod82
Current management have no skin (ie share purchase) in the game. All they collect is remuneration and share bonus' any that hold shares were either issued them at commencement of incorporation or issued through performance options.
An Whiskers thinks they arent burning cash???
As I said prudent management watch the market they are in, including the sale price of the commodity that they are selling. If they spotted this at the start of the decline, raised any necessary capital back in the 20-30s and wound back drilling on other ore bodies except flagship NAL we would likely have needed markedly less than the 200M raised around last August. We also would be in a better cash position now with likely less dilution in shares.
But hey if they also delivered on other promises or sprukes we should also already have offtake agreement in place too, considering it was imminent for like 4 months.
But hey its all the spot price declines fault........
Thats why CXO is producing 4.7 grade at less tonnage and recoveries than us and has a higher opex, yet our market cap is lower.
Wait they also put themselves on C&M too and will take time moving forward to re-deploy necessaries, dont have a half built carb plant or have anywhere near the size of resource that is our 60% of moblan. So even if you factor out a split of PLL offtake spod. Its hard to see why are cap is lower other than a possible managerial issue also contributing to the cause.
Here we are with an accelerated cash burn going into Dec with a "cost review" announcement early January.
Almost seems like they cant decide on whether to cost cut or cash burn going into the downturn....
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