All power to devil's advocates. It keeps me honest. I need to...

All power to devil's advocates. It keeps me honest.

I need to hear naysayers so I can judge what the risks are and whether I think they are worth taking. Are they annoying? Yes.

Are they sometimes just stirring the possum? Yes.

But worth listening to naysayers and making your own mind up and testing your position against their arguments (as some have done already here and posted their countering arguments).

Having them around is better than just being fed what you want to hear.

re this issue:

Is the water issue definitively addressed? No. It is being addressed but there are still outstanding issues.


Is that a risk? Yes.

Is it a major risk? In my opinion probably not much. Others may disagree.
(I can't see it stopping the project because there are alternative solutions if the current negotiations fail to secure a suitable result - everything from more on site drilling, to buying from nearby bores, to sinking bores on nearby locations and paying for rights, to on site water capture, to bringing water from further afield or mixtures of all of these - those solutions may involve higher costs but it would seem unlikely to make the project un-viable).

What is the risk? It may increase costs. What value do you give to the risk? How much would you discount the value based on that? That is something you need to work out for yourself.

My gut feel is the risk is probably low and that they are confident the issue won't jeopardise the viability of the project. My reasoning is, otherwise if they felt establishing 100% water supply was going to be a show stopper they would not have released the DFS.

They would have weighed up whether it would be more destructive to release the DFS with that matter still not fully resolved against delaying its release for the time taken to sew up the water supply with certainty (a potentially long delay for what they believe to be a low risk component).


But yes it is a risk. I need to be kept on my toes when evaluating the risk. I am investing in the company because it has risk - if the mine was a guaranteed certainty then the price would be out of my reach. I am gambling on a long term payoff because some people are avoiding risk that I judge to be worth gambling on.