I sincerely hope you read this, and help triangle investor prepare well for this 1-in-a-million opportunity to actually get some clear straight answers from RH, one of the highest paid junior mining executives on the asx. Thank you.
Here are my thoughts...
The big separation from value accretion, took place in March 2020, with RH's decision to walk away from Mark McGowan's gift of a very rare uranium mining permit. All he had to do was complete 'substantial commencement' by the agreed deadline. Mike Young, from Vimy, saw the uranium boom coming, and believed in uranium, he fulfilled the agreement with the state govt. At the time Vimy was worth $50million. Today Vimy holders own 47% of DYL, worth $750million.
Instead, RH began pursuing Nickel and Gold.
Today, after much revisionism, he offers several excuses, including that the environmental approval showed the plant in the wrong location. What a pitiful reason. He had 3yrs to resolve this issue. Further, because of this one issue, that might have slightly increase haulage costs by a few cents per lb, he stranded the entire asset, leaving it permitless?!
Who does that?? What mining CEO chooses such a path?
Why does no one hold him to account?
And what was the whole nickel & gold costly misadventure all about?
Lastly, he has reapeatedly announced that his legal advice is that he reserves the right to apply for an extension to the 'substantial commencement' deadline. I've spent hours researching this and the clear procedural approval path it must take. And it's true, he has this option. And he would have a good chance, the procrss of arbitration on this, is independent and apolitical. So, why doesn't he? Why doesn't he just leave the plant as shown in the approval document, and move on with the permitting of a uranium mine f'rcrisakes!
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