Update on Company website, page-2

"Interesting that this is on the website but haven't seen any market release" ... probably because this puff piece by corporate spin doctors Citadel-Magnus says absolutely nothing new or meaningful. McFadzean went to an LNG distribution centre opening, banged the drum at a mineral sands conference generating zero buying interest judging from the market action, and the team went on a marketing junket to China to update off-take partners on why the UBS project sell down is taking so long. That last point in itself is interesting and meaningful if viewed through a cynical lense, the sell-down delay dragging out long enough to make the off-take partners nervous.

The best spin I can put on this document is that SFX went to China and said "maybe you guys should buy into TB, otherwise there will be no product to receive on your off-take agreements" lol. Wet season effectively over with only one rain event since the 18th March (~12mm 10th April). Maybe a Derby trip is in order explaining the UBS sell-down and delays to all the contractors and would-be employees that have put their life on hold for the new mine that was going to be started for sure after the 2019 wet season finished?

I was going to say damned by faint praise, but that's not really apt because nothing has happened worth mentioning, which is precisely the problem. Maybe the better phrase is; if you have nothing good to say better to say nothing at all. The Chinese may well be kept in the loop but shareholders have been conspicuously left in the dark. I honestly cannot think of a reason why some update cannot be made, referring to a "short-list of final bidders", or that "proposals are being considered with a final decision on funding partner due on XXX date" or similar. Unless of course, there are no decent JV offers to consider which would open up the board to accusations of misleading disclosure...

Latest push down into support looking fragile here again while ASX marches back up into record territory, led by commodity stocks as China hits the stimulus again big time. Imagine if the world stock markets took a decent correction swoon down now into no-support at mid 50's. Is it really very surprising that in a news vacuum from SFX, with the UBS sell-down already long in the tooth and about to run over-time as the dry season ticks on, that the technicals are looking shaky again.

Can anyone please tell me that the lack of any sell-down news or buying support at this late stage signals anything other than SFX and UBS fiddling over the choice between bad or worse partner funding offers while Rome burns? Maybe Franpower and his SFX crew that all turned up March 6th to defend against negative TA views can sooth us with some rationale explanation at this critical juncture.