Dozen, the SML is just one of many points where Andrew and his team have failed to deliver. Kwinana was completely financed, approved, and meticulously planned at great expense. Then everything was halted without providing shareholders with an explanation. The assumption was that Andrew had failed to procure the raw graphite needed for operations in a timely manner. As usual, he had only made non-binding letters of intent because he never knows if he will finish on time and fears penalties for delays. He knows himself and his team well and is aware of their glaring weakness in meeting deadlines.
And yes, I had a well-paid job (not nearly as well-paid as Andrew’s) and was constantly under pressure in my professional life. Failure to meet due dates for a new product development led to a six-month delayed production start and millions in losses. This happened only once in 30 years, and the “guilty” parties were fired, demoted, or sent to China. Even a slower production ramp-up or initial quality issues resulted in losing one's bonus. At Ecograf, nothing happens despite achieving nothing since 2017. Salaries continue to be paid without deductions, and for minimal successes like a CR or a tax refund, the management wants a bonus.
The only positive in the last seven years is the deal with AngloGold, and it wouldn’t surprise me if the bonus Andrew demands for this exceeds the initial $100K payment of Anglo. I hope AngloGold finds something and stays committed. However, this would also shake my faith in Andrew as a good geologist. If AngloGold succeeds, one must wonder why Andrew didn’t extract the gold himself. It might have been better than focusing on graphite.
Stop constantly defending Andrew; it only increases his comfort in the frog pond. He needs to finally deliver for the hefty paychecks he has been collecting for years.
He should show us shareholders the MONEY, that he and his management colleagues have been pocketing for years
It is time that also the LTHs finally participate and not only Andrew and his team!!
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