Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Like many many posters here, I am now so far under I can only wait in the hope that when the full report comes out mid month, it will give a meaningful explanation of the poor figures we have surmised. I hope it will give us some confidence that there is, in the long run, no major reason to be concerned. It is so frustrating to consistently get poorly worded or confusing statements in the RNS's. Unfortunately, what has been clearly stated indicates production figures which are no where near the figures MM has suggested we would be getting. Unfortunately he has again raised expectations to a level which has not been achieved leaving many disillusioned and frustrated. I still think this will come good provided demand and prices remain decent but I am now looking to 2021 before we can achieve the figs we want. This is going to be a long haul.
Let’s write an rns about 4 million possible dilution, oh and by the way we did about 55t in Q1. You couldn’t make things any worse if you tried...as usual it’s one liners in the rns he drops with no clear interpretation. Pi.. poor Mr Masterman.
But even MM’s biggest fans have to admit this is p@ss poor. If I was a cynic I would say his mates are shorting us (I am obviously being flippant and don’t believe they are) but why just casually throw out numbers which are clearly awful. It beggars belief and genuinely brings into question his role and skills as a leader of the company (am not saying he isn’t good at what he does, just that I am underwhelmed by him as a CEO). My main issue isn’t with under production, we are in the ramp up phase and it can most likely be reasonably explained, but to do it this way beggars belief. IF I wasn’t under so much I would simply wipe my mouth and walk away from this company as he never seems to learn.
As you may surmise I am deeply unhappy with him right now, not because of covid, or him getting a facility, even though in the same breath he says he can get access to government guarantees and support (and he will given that it would be unbelievable if he didn’t meet the criteria) at the same time saying he isn’t desperate for it (once again gut feeling is he isn’t and we give him the benefit of the doubt that he is being prudent)but I have just lost faith in him) and then to throw in we only managed 55 in three months.
This will be a long 10 days to see if they open Spain up a little and suspect it may we’ll be longer.
Then another 15 days before we hopefully get production numbers (though suspect closer to 10 days). It will hopefully confirm what the production was, what would be good would be a proper explanation as to why it was so low, but don’t hold your breath there.
i didnt ask for any figures.
i just asked them if that 160% increase on the last q4 figs,was correct.
and why so low.