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Looks like we’re due another ‘speeding ticket’ RNS
Acker- hopefully any loan will avoid the likes of Anavio et al and be more mainstream lender with good terms, a strong NRS should underpin that.
Am I right in reading the drill results that ZDD162 has a seam width of 3m of 1.21% but is 356m down? That’s a hell of a lot of overburden to shift.
Stark rarely get a mention now, I suspect they’re becoming marginalised and we are dealing with the OEMs of the equipment to get them all working. Hopefully they’ll stop sending exorbitant invoices for their poor delivery.
Acker- what happened since your 9.30 post this morning ? You’ve change your tune
‘Very comfortable with the RNS.
No red flags.
We were all expecting a call for further funding, no surprise.
Balland mill is a little late, no problems
The review is upbeat and encouraging, keep up the good work’
‘alternatives to equity-based funding are under investigation.’ Looking at ways other than a share issue. There would need to be an EGM to get headroom as there are no shares left to issue so hopefully looking at more traditional short term loan ( hopefully with a reputable source unlike COPL approach)
The reason we didn’t sell was that we were being confidently told that full nameplate production of SC6 was ‘imminent’ and the value of that production was 4x what it is now, as investors we can only make judgements on the ‘facts’ we were being presented with 🤷🏻♂️ We were mislead.
RickyK- I’ve taken your advice and emailed my enquiries to the company, including suggesting the answers be RNSd. I’m not holding my breath
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 🍷