Key Factors for ESR's Success: My investment reference statement, page-109

The totality of these unaddressed issues below is deeply concerning.

If the five critical points had been adequately tackled and communicated, the share price would almost certainly have surpassed 5 cents by now.

The prolonged radio silence, particularly regarding approvals, reflects poorly on management's strategy and transparency.

It is imperative that a detailed and comprehensive update, including anticipated timelines and progress across all fronts, be provided this week.

Without this, stakeholder confidence risks further erosion.

The time for vague assurances has passed—what’s needed now is decisive and measurable action.

1. Funding Secured

Funding was achieved via awm holdings fzco. However, as the only clear achievement announced to date, it underscores an urgent need for broader progress.

2. Drilling Program Challenges

Despite the well-known costs, complexities, and critical nature of the upcoming program, there has been no announcement or tangible clarity. The absence of communication on timelines and preparedness is eroding confidence in management's ability to execute effectively.

3. Permitting Bottleneck

Permits remain a glaring concern. Despite assurances of local connections, the total lack of communication about approvals raises serious questions about the project's credibility. This silence is both unacceptable and unsettling for all stakeholders.

4. Logistics and Infrastructure

While there have been initial signs of promise, no updates on the readiness of crews, equipment, or contingency measures have been forthcoming. This glaring omission puts the feasibility of seamless execution in doubt.

5. Wet Season Preparation

Given the limitations imposed by heavy rainfall and humidity, this period should have been leveraged for meticulous planning. The evident lack of progress demonstrates a troubling shortfall in prioritization and proactive management.

Furthermore
I understand that on March 27th and 28th, Daws will return to Hong Kong to further present Estrella Resources to prospective institutional investors. This engagement could potentially see news flow on long-awaited updates.