Member Info for Anglebox788

RickyK - the one shuttered in the foreground is still to be poured, they’re clearly building shuttering for the next, the one to the right is just a re- bar frame and looks like another one completely to be started. How long is this going to take to be shuttered, poured and hardened? And news of the mill? Still want to know who’s paying for it, Stark were supposed to be footing the bill, why are we still receiving invoices from them for remedial work to their poor plant design, any news on the sorters? No just pointless photos of unfinished work. Are you even on site George? You promised us you’d be there digging the ore out yourself, if necessary, to get this completed within your latest timeframe , already slipping, only 5.5 weeks to end of February production of SC6 . No wonder SP is continuing the decline, nobody believes you’re competent anymore, for Pete sake get someone in capable of getting this over the line who’s going to work on it 24/7, on site and motivate the team. What’s our COO doing whoever they are, it’s currently they’re only task? Are they on site? There’s just no sign of urgency.

Looks like the civil engineering is nowhere near completion , but I don’t suppose we need worry as we’ve no idea if the mill is manufactured yet never mind in transit because, as usual, George is keeping quiet, probably not been on site since his Christmas break🤦🏻‍♂️🤬🤬🤬

….. if they made money on the sale would they give credit to Prem account? I think not

Jaglith- Surely that’s not how it works?

Nhjj- they seem to have little idea about anything else after 12 months so why should they have pinned the costs?

For minority read majority

SK - if GR had been smart this project would have been producing a year ago when you were predicting $20m a month income. Instead the company is facing and existential crisis and the minority of shareholders are under water, far from smart in my view.

Can’t really see why they are still working the pit and burning that much cash when there is no income. Just making a very expensive pile of pay dirt. Surely we’re better waiting until plant is up and running and work on a ‘just in time’ supply rate, it’s crippling an already perilous cashflow situation. Now is the time to be on top of costs, what is the Chief Financial officer doing? There appears to be no joined up thinking going on here, a completely dis functional board of directors or simply GR’s puppets or muppets?

Trouble is Acker everytime GR does an interview we are all left trying to work out what he wasn’t saying as nobody believes anything he is actually saying and the SP usually tanks as soon as he opens his mouth as he hasn’t a shred of credibility left

We’re going to need some seriously positive news before the end of February to lift the share price, by my reckoning at a constant 3% daily drop the SP will be less than .07p by which time any kind of placing at a discount or otherwise will be worth negligible value and raise very little revenue for huge dilution. I worry if GR does a Stockbox interview with his usual flippant attitude the decline will be even faster and not helped by the falling spodumene value. We need concrete facts showing the new mill is guaranteed to arrive on time and that all other issues have been fully understand rectified along with the new concentrator installed and commissioned. A single picture of one small, rock ladened truck and a bowser tractor do not cut it. Show us and tell us what’s going on otherwise it’s going to be game over. WAKE UP FOR GOODNESS SAKE!!!

Luthee-

As you say a good update ( if any of it is true) but beggars belief as to why our esteemed CEO hasn’t been sorting all these issues with plant design and failures over the last 12 months rather than wasting millions on moving RHA mill and feeding a pack of untruths to the market.

Wullie et al, enjoy the night have one for me 🍷

No RNS because GR is in London to busy wining and dining himself and no doubt holding court with his cronies about how royally he’s shafted the greedy private investors yet again, and all on a first class expense account.

Dontpanic- depends what you call soon unlikely before end Q1 2024 🤷🏻‍♂️

Sorry El-Gelboy, I have restated many of your points I hadn’t seen your post but clearly we are of a like mind.

Sorry Acker - but you seem to be taking everything GR said as 100% true and verifiable. Listening to the interview it was once again littered with ifs, perhaps and probables. It was the same GR despite in the Q&A saying he had learned from past mistakes regarding deadlines made and missed. He says he’s been concentrating on the business side of things, without any product to sell there is no business! It fills me with dread that he’s going to be more proactively involved in the production side, surely this should have been a priority from day one not 18 months down the line. Our only hope is that one of these additional people he referred to know their a**e from their elbow and will sort this out once and for all.

Inclined to agree Jenko, with the update of January week 3 for mill installation( plus one months customs delay, rebuilding roads, waiting for some part from America etc) can’t see production Q1 so becomes an existential crisis.

And Acker I’ll say red this week but who can predict the MM games?

Steward- I don’t remember GR saying they were putting together another deal more of the lines they were considering their options and we’d know by the end of the month what decision they’d made which for me indicated they could still stick with the current arrangement ie Prem will pay cash in lieu of shipment.

GR admitted responsibility for relaying misleading information on 3 notable occasions, but claims it was based on information that he took at ‘face value’ provided by other parties, shouldn’t he have critiqued that information thoroughly before blurting it as gospel? Pretty unimpressive presentation for me. Agreed with hindsight that installing RHA mill was a waste of time and money, my words not his. The feed ore is and always has been contaminated with Talc which goes all through the plant and has been floated off with the spodumene with allegedly over 1000t of contaminated material bagged off but nobody seems to know if it can be reprocessed. The new mill has been upsized which means that the civils installed at time RHA mill was installed to accept new mill are now useless so need to be completely redone. Said new mill should be installed by 3rd week inJanuary 2024 and optimisation will begin from there. Adding an additional hydrosizer to double capacity of this aspect, didn’t say how or who this would be paid for. Hinted that Prem could be guaranteeing or paying for the new mill to ensure it’s delivered. Going to use down time to strip more of pit to better target improved quality ore.

Furion- why should we shareholders , have to interpret what is said, why can’t it be plain unequivocal and clear? You talk of teething problems, this plant was purpose designed to get SC6, it’s been running on and off for 10 months, that’s not teething issues it’s more likely not fit for purpose.

‘ Canmax would have to be have been onboard……’ but are they actually? The terminology used in the RNS is the same used by a board supporting the manager directly before he gets sacked. To avoid confusion I’ve been in since early 2020 and have accumulated when funds allowed but not added recently as just cannot believe anything GR says. Looking forward to this afternoons Jackanory being read by George Roach