As you saw, the fact that Mr Peter Harold delayed the FID once more had a massive hit on my mental health. Looking at what is happening today is doing nothing to put my mind at ease. Two or three months ago, I was on the brink of death. All my tests were flashing red. Some of my blood tests were 50x what they should have been. 3 Different doctors told me that I was very lucky to still be alive. 1trader has no idea how close he got to the truth when he was talking about a call from God Luckily, I have very slowly started to get better. A very long way to go yet with no assurance of a relapse. But there you have it. I suppose this is God's way to thank me for never smoking, never drinking, never taking drugs and being a quiet and inconspicuous guy. I was looking forward to the FID but Mr Peter Harold differed FID again, directly contributing to our current sp. I disagree with posters who say that SHs should not criticise PH (when warranted / constructive criticism) because it will affect our sp. I have said this time and again, what we say here does not impact our sp in any meaningful way. It is what our CEO does that can affect our sp. For me, the current sp lays squarely at the feet of Mr Peter Harold. I have asked this question to the 3 of you because over the years, I have formed an opinion on whom I can trust. I do hope you will respond to this post and tell me how you see things without any bias. I apologize to other posters. This is not that I do not trust your input but the three people this post is directed to have been here for many years and I know I can trust them. I am pretty sure that if they choose to respond, all of us will benefit.
- Guys, can you please let me have your read of the situation? Have you guys sold out, sold part (if yes, what %) or are seriously considering selling?
- Mr Peter Harold said in the webinar last week that CR is not the only option POS has. However, Mr Peter Harold has said many things before and they have not materialised. So, the way I see it is that a CR is on the cards. How much do you think needs to be raised and at what price do you think it will be done?
- I am thinking of holding even though I cannot participate in any CR. Then I am hoping that Mr Peter Harold can finally finalize this offtake agreement that he has been talking about for a very long time. I am even questioning myself whether he has what it takes to finalize a deal and create value for SHs. On paper, he should but in practice, he has massively disappointed me. However, to be fair, POS is not the only company feeling the pain at the moment. Many of us believed in Mr Peter Harold (including myself as a true believer) but I must admit that this is becoming more and more difficult. I don't want to phone or email him as he has explained in details in announcements and interviews what has been going on. It is just a matter of whether you believe all he said or not. For me, I find it extremely hard to believe Mr Harold these days. Are you also having this issue? I don't want to sell as if he can get funds without doing a CR (CR is not his only option he said), then on sp will probably stabilize around these levels until Mr Peter Harold can finally deliver on the promised land.
- Mr Peter Harold said that it is very difficult to decrease costs at BS. Many posters have suggested the obvious solution but I don't think it is obvious to him.
- In Padley's interview, Mr Peter Harold said that he was also suffering as a SH because of the sp. From memory, I can only recall I think circa $20k that he bought with his own money. Is this correct?
- People have said that FID was never going to be achieved in June 2023 as Mr Harold has himself admitted that offtake negotiations are weeks away from being completed. Maybe he should have advised the market that offtake negotiations were taking longer than required (which is true) and in parallel, he could have done his extra drilling and testing. As Mr Peter Harold said that he thought POS was being over cautious, etc, the drill results would probably have proved him right, our sp would not have tanked that much. CR would have been done at a higher sp.
Anyway, just one rotten luck after another for me. I thought I had many long years in front of me. It might still be the case, but the likelihood has decreased. Same, I thought FID was a done deal (I must admit, I was thinking this since mid-2021 when PH earmarked FID for Dec 2021). Now, like my health, a bit more touch and go. I cannot understand why np has all of a sudden become an issue for POS. In A$, it is still about twice the AIC. I will really appreciate your honest responses please.
Thank you in advance.
POS Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
(20min delay)