Another Savannah Resources?27 May 2024 09:39
Watched the video. Hope to heavens it's not another Savannah where, in reality, we're actually years away from earnings. It's SL where the lethargic license squatter risk looms large, and I think we've seen some SL suspicion about CMET previously when they took their licenses away. Of course, it was corruption but when you dont progress you leave yourselves open to such flank moves. Also, these are after all standard construction minerals that are not in short supply and I think as such they're struggling to excite commitment to the big risks like jv/build etc... The port lease and port quality could be a risk too and, like a previous poster said, we're half way through the leases now and years away from earnings. I'm an LTH and staying put with a modest holding but I'm not expecting fireworks anytime soon from this BOD, especially GM who, on this showing came across as a bit dopey in my view. I've had high hopes for my holding here but I don't like companies that over promise and under achieve. Hoping for more positive news but in the absence of, its a 3 to 5 year hold for me now. Bottom drawer with Savannah.