I worked at this plant also. One word : Civmec Most, if not all projects they are associated with are cheap builds, high employee turnover and are novices in the Electrical side of things. They are well known for their Mechanical background. Much of the electrical management has been poached over the last 15 months from a Tier 1 company, who are more then reputable in the Electrical game. The problem with them is they pay peanuts, hence the above associated issues. They are now the same crew that has drifted over to the Gold Roads Grueyere Project. ASX : GOR
I resisted to buy when I was working there from the end of 2017 till mid 2018, however, due to the fact that they are ironing out issues in commissioning and are on their way to nameplate, on top of the current share price and the hit that lithium sector as a whole had in 2018, I bought early last week.
Its a running plant, and its quite a few steps ahead of the mining companies out there who are still either exploring or not yet building. Add to it, the fact that they are next door neighbours with PLS and this makes for a decent buy. Whether or not the share price climbs considerably or the mine itself goes south is an unknown. In 2007 Cyclone George went directly over a Rail Camp, not even 2kms from the AJM camp site, killing 4 workers and causing extensive damage. The area floods due to the creeks that run through it, so there are plenty of things that can hypothetically slow things down, not just for AJM but also for their neighbour PLS.
Please do your own research, but I have bought and am looking at a long term position, and wish all holders the best of luck with their investment. Lets hope Altura go from strength to strength. Buy if you're looking for a long term investment IMO of course.
GL DYOR
AJM Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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