Mega and DYL are very different businesses, one is basically, an investment fund, while the other is a mine developer. I don't get what Mega is doing. Mega will never build a mine. They will never develop Wiluna. And RH is a small-time city lawyer, who runs a small law practice with small-business clientele. None of these people knows anything about mining, or building mines, or running minesites. For that, you need experienced project managers, mining engineers, and industry professionals. For example, RH wouldn't know how to lead, and motivate, large scale civil project teams & mining crews.
My point is, RH was never meant to build anything. Completely wrong skill set, and personality. RH was an extremely well-paid caretaker, paid to hold the fort and keep the project in "hibernation" mode, while the uranium sector was in it's longterm bear market. He was chosen by his good friends in Mega. It's a sordid business, the asx small cap sector is the wild west. Where transparency and shareholder interests, are often far down the list of priorities.
What I don't understand, is why Mega would continue to employ RH, now that uranium is in a bull market. Strangely, Mega have continued to pursue their "hibernation" policy for Wiluna. Presumably, it was Mega who allowed/encouraged RH to kill the mine permitting opportunity in Jan 2022? But, why?
To try to explain Mega's self-destructive behaviour, some here have tried to make the case that Mega's goal is to destroy/bankrupt the company, so that they can then swoop in and buy the company for cents on the dollar? But, then why allow RH to raise $12.1million in Jan 2024, to keep the company liquid? And besides, the company is already so cheap right now, that Mega could buy the entire company for an EV of ~$15million. So, why haven't they, if that was their goal?
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