RE: What was said 1/07/202022 Sep 2020 17:37
Sooty, perhaps you should remind yourself of the reasons you invested in the first place (years ago). I agree there has been a bunch of activities they've undertaken that appear now to have been a waste of time and money - EPP, Cold Pelletisation, Floating Port etc. But there's two things that have happened in the past 12 months that make me stay in this company. The first is the engagement of COIDIC. For all the positives like environmental permits, strong IO price, deteriorating Sino Aus relationship etc, this is the most important announcement they've made. They've never named any external parties in the past. So this is a big difference to previous statements of 'Chinese interest' from nameless entities. The way I like to view things is COIDIC are doing due diligence and will report back to Chinese majors on the cost v value of our project and surrounding opportunities. The second thing is payment for company staff in shares. I don't disagree with your assertions they're likely sitting on their @ss doing f'all, but the difference now is they're doing f'all waiting for the phone to ring from a named Chinese entity they've been engaged with for 10 months. For due diligence to be done on a project likely to cost $bns I'd say 10 pandemic impacted months isn't that long. But then again this is what I say before I go to bed each night dreaming of Zanaga paying out. Another pov to consider at least.
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