RE: Magician's Distraction31 May 2024 14:06
max - all well meaning positive stuff, and all on here know i'm invested. but, that rns was quite rubbish - summary we are spending more investors money on consultants, by the way we haven't progressed han****.
the presentation you refer us to (the out of date dec'23 deck) estimates close of fid in 4 weeks (end q2), and construction starting 8 weeks ago (beginning q2). the former is unlikely, the later has not happened. therefore how can a timeline which should have started 8 weeks ago with the construction phase get to production (i assume digging ) by mid q3 (end of august) end with shipping some ore in january?
i'm trying my best to be positive as i have a shed load invested here, but unless and rns lands very soon with plans to get some ore dug up with signed up contracts / money and the roads having a plan to add a junction (which isn't even a scheduled project yet as far as the highways are concerned), then we can kiss goodbye to any digging this year. my very best guestimate is currently jan / feb 25 for shovel in the ground leading to a shipment in june 25 - and that is only if they actually get fid / plans done in june. each slipped month slips the plan to the right. how you get staring construction in august to port allocation q4 is pure conjecture and not based upon any timeline the company has given us?
the management need to buckle down and give investors something to believe in, clear funded plans and goals. what we saw yesterday was slight of hand while the can was kicked down the road.
keeping the faith atb pj