RE: ACP Questions30 Apr 2024 20:03
I'll also bite:
1) What has the management achieved in the past 4 years which justifies taking a salary?
a. Updated the Mine plan to utilise a higher cut-off grade and a lower strip ratio.
b. Commenced testwork on graphite to ensure suitability for purity.
c. Increased the Mahenge NPV8 to $430 Million
d. Completed the testwork with CSIRO
e. Applied for a Mining Licence
f. Proved up to 99.99% purity can be achieved
g. Submitted ESG impact assessment
h. Commenced FEED
i. Received formal approval on ESIA
j. Received Mining Licence
k. Appointed Greg Entwistle who is a phenomenal appointment.
2) I would hazard a guess that it would not make sense to sell down investments, and then use the remaining investments for general working capital. It would be foolish to do so.
3) I'd expect the wider market to want to see more details on the project prior to making judgement. We'll be able to make judgement as we receive further info. I didn't know much beyond there being a silver project. I can't imagine MB is adding garbage projects - But I'll wait for the RNS with information.
4) "We're funded until production" means we're funded on the basis of the projected timelines. You really need this explained?
5) Anything can look imminent, until it isn't. Until it is again. and then it isn't again. Lenders move goalposts. You're telling me you're too naive to know this?
6) Again, do your own homework. I'm not wasting hours trawling through RNS' to help a troll. You do it. Then come back to us with your findings.
Now, please feel free to answer MY initial question, and my questions about you and AST.
I suspect you won't, and you'll deflect.
Answers on a postcard, please.