The communication is average regardless of what chanel.
SH's can handle delays or changes to strategy when they are clearly articulated. It is most likely that current delays are in fact for a valid strategic reason (at least in mgts mind) but instead of knowing that reason, we all are left to do our own forecasting/guessing.
If management said something like this :
"The project numbers stack up, and we have strong indicative offtake and finance terms however ... we believe if we wait another 6 months we will achieve;
A. Even better offtake or finance terms because XYZ
B. More drill results and an expanded resource which will require some LOM re-modelling but be far more profitable long term
C. We really want to know more about this Keep target before FID"
I'd be more comfortable
... and as I've said before I cant for the life of me understand why they dont do ANY event presentations. Cant think of another small cap I own in this stage of the development cycle that doesnt do ANY presentations.
But at an EV of under 20M this is cheap and definetely a good risk reward play down at these levels. I do belive the project will go ahead at some point, the fundementals and financials all seem to stack up.
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