Trev2,your post echo's my sentiments entirely.Of course we all want Anglesey mining to be a great success,but there seems to be a lack of enthusiasm,drive,spark,leadership,call it whatever,it feels like a game of cat and mouse or call my bluff when trying to understand what the Board will do next.Tut tut.
Here's what I wrote on 28 Sep immediately after the AGM: "A scoping study is in progress by consultants Micon. This is imminent, and might have been available today but for a small delay. An RNS will be issued in due course. The study will include factors such as the availability of good cheap 2nd hand equipment, the post-referendum drop in Sterling, and metal prices. Armed with this report, the BOD will approach potential partners: preferably long term equity partners." Fairport Engineering was actually mentioned alongside Micon, but my pen couldn't keep up!
So when "autumn" was promised by the BOD they surely thought that those 3 months was a doddle. It's now overdue. We can only speculate at how much of this is down to the suppliers and how much to the BOD's own input: commodity price assumptions is one for the BOD. Who knows, publicly stating such expectations may have an effect on negociations with potential partners in much the same way as the UK Govt is being tight-lipped about its objectives prior to Brexit negociations.
Anyway, metal prices have perked up again, and Parys Mountain is now worth £1095m. If it costs £400m to extract and we pessimistically discount 3/4 of the markup, this equates to a share price of 101.2p.
..the delay in the publication of this "Scoping" study .... was very predictable. I just hope the outcome (quality) justifies the delay. We have commissioned numerous reports before and I am unsure if any have added value.
Expressing frustration about the delay is understandable and the reason may even transpire to be excusable, but what is wholly unacceptable is the absence of any communication.
There is no acceptable explanation for such behavior and yet again it highlights the apathy of AYM leadership. It reinforces my concerns about the leaderships' ability to manage / develop this operation.
I appreciate that these comments may be more "brutal" than my previous contributions ... but AYM purports to be a business and my perception is, that it falls woefully short of normal expectations.
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