1. Achieving Carbon Neutrality will delay any progress. The company has acknowledged his in email exchanges. The pursuit of Geothermal/lithium suggests that the original solar/hybrid proposal did not achieve the carbon credits necessary to provide carbon neutrality.
2. We are nowhere near a PFS - let alone a DFS. The time lines previously provided by the company are not being achieved. Given that we are going back to a PFS - previously bypassed because there was sufficient data to proceed directly to a DFS and thus save time and money - means that proposed time and money saving exercise has been discarded.
3. The JORC MRE was not delivered on time. This is becoming a hallmark of this management.
Investors are a forgiving lot IF they are provided genuine progress details or reasons for a lack of progress. Failure to provide this will see support wane.
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