Tony good or bad CEO?, page-6

I think Tony inherited the problem.
But the question is :Can it be fixed?
Clearly the assumptions in the BFS were wrong and Tony was not respopnsible for that.
I keep asking why the technichal director jumped ship four months ago?Or was he pushed?
I have consistently pointed out that the only Australian company with serious industry experience is SHP with Chirs Gilchrist.
Yes I am a holder of SHP.But I have been watching the emerging Australian industry with great interest as I like the commodity.
But the reality is that we are still awaiting a success story and right now it is one disaster after another.
As with all mining projects recovery ratios matter and you can keep spending capital but will the returns justify the original investment?
I compare this with the delusion that went with the WA high pressure acid leach nickel projects 15 years ago.
Glencore finally got it to work after they bought in at cents in the dollar.But knowing what they know now, would they have built it in the first place?
Finally there is clearly a yield problem with the ponds.But what about the rest of the plant?
I have always been concerned that they will fail to produce a product to the strict specifications required by the industry.
Slowing the ramp up down and rediucing the burn rate while you prove the entire flow sheet is a smart call.
What we need to see now is a very honest ledger showing:
1.How much cash does SO4 have today?
2.What is the revised cash flow?
3.How much new cash is required?
Assuming they can answer all the technical questions and show some finished product then a smart fund might be
prepared to loan money by way of convertible note.But I would insist that Taurus give up that rich royalty that suckered them into the project.
Now is the time to get rid of the BS deals of the past and reset the ledger to the way it should have been in the first place.