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I suspect we all get a bit of the heebie-jeebies because subliminally we are influenced by the duplicitous and wicked ways in which newcomers dealt with native peoples in the nineteenth century, such as the utter betrayals of Native Americans by the white man, and the legacies of resentment which this inevitably engendered. But that was then and this is now, and fortunately we working in a different climate, with sincere mutual respect and - as cj hints - to mutual financial advantage
Sorry, cj, I have been away from the board for an hour or so. But I see that max has provided the link. I suspect (and it's no more than that) that their temporary halt on Native Title work might have had something to do with getting the new compliance officer in place. That post would (by it's very title) not seem to me to be necessary for the actual negotiations of agreements, but it may be that they didn't want too many new agreements on the desk of the compliance officer as soon as he or she started. As I say, it's all surmise on my part. My informal enquiry direct to KNAC about any clue of progress received a very "straight bat" response, but it was at least enough to reassure me that people at our end and and at their end are "on the case". ie they didn't reply "IOCA? Who the dickens is IOCA?"
cjmorley, if I have any qualms it is the same as your "biggest fear". A bid at 1p would be over 100% from where we are now and would make a tidy little packet for Board members who have put their money in recently, but would be a severe disappointment for those of us who have waited patiently. It might happen, it might not, but it would be a shame if it did.
Do you know what this conversation has suddenly reminded me of? A very good friend of mine always says that I "overthink scenarios" and have a constant default of "catastrophising". I don't know what she'd make of boards like this! Maybe we should all try to stand back from 'This might happen, This could happen, What if?' on a truly global scale, and it would be better for our blood pressure if we adopted the same strategy for our investing as I do for my gardening... Stick it in and hope :)
This is NOT a whinge, everyone. Just a bit of whimsical humour. I think we can be allowed that every now and again on a fairly quiet board. And, as someone said yesterday, a comparatively polite and constructive one.
At the beginning of last week, following the issue of the RNS, someone (I forget who) said "I think now we'll be leaving the 50s behind". Well, how very right they were! :):)
You beat me to it by seconds, Deanok. There could be a clue here:
https://www.fmgl.com.au/workingresponsibly/aboriginal-employment
In the present day and age, EeyoreWaysis, none of us really knows where anything is going. We could all follow normbeef's slow and steady path (which personally I think is the right one) and then, at the end of all that, we could be 24 hours from UFO going into production when Mr LoonyTunes who runs Russia could render us all dead.
I agree, Max, we are getting much clearer timescales from Rod. So people shouldn't go down the wrong emotional route as they were when they were told we'd be "shovel ready" by the beginning of 2023. Which clearly we weren't. It's water under the bridge now. and Rod's pronouncements seem to be much more professionally presented.
The point I was making though, Max, is that "shovel ready" led us to believe that absolutely everything would be in place on that date. It doesn't matter that it isn't, as we all know who are prepared to wait. I was trying to mean that everything might be "shovel ready" in operational terms, but that doesn't imply an actual start of production if the permits aren't in place. They will be one day, but obviously weren't in the timescale that we were mistakenly assuming from the term "shovel ready".
Deanok, you are so right about the term "shovel ready". It's a meaningless, non-technical soundbite, which unfortunately misled us all. It comes back to what I've said a couple of times lately about old-fashioned critical path analysis. Some aspect of the operation might be "shovel ready", but it doesn't mean that everything is just yet. To use an analogy, it's easy to 'pre-sell' a supercar to the eager, but it may yet be two years before it actually turns up on your driveway.
Yes, Lth. As you'll have seen me say several times before, SGZ (HH was there too) had the gestation period of an entire herd of elephants, so UFO's progress can be measured in nano-seconds by comparison.
Wise words, as usual, HH. Although this board is at least spared the extremities of nonsense to be found on some others. We are fortunately for the most part spared the orgasmic and inane "Here we GO!" "Lift off!" and "Better run, the train is leaving the station!" which follow even remotely positive RNSs.
Agree with your general analysis, wentsland. Only possible reservation is that it does rely on one cog clicking into place as soon as another one turns. My own opinion is that things might be a wee bit later, allowing for the usual slippages, say the end of Q4 before we leave the 50s. But not much difference in the scheme of things
I note a lot of 1,000,000 sales this morning. Presumably these are the traders who want to take their modest profits. Well good. Exactly whom - note the decent grammar :) - we want to get rid of. Success and rewards for we LTHs will be for us to be in the majority and not at the mercy of people who'd rather have 2% before lunchtime than 400% before 2026.
Yes, I'm with normbeef about the slower grind of sp rise. Nothing is more likely to deter potential solid LTHSs than to get a reputation as a Snakes and Ladders share.
I am also pleased to infer from the RNS that management does read these boards and take note of our concerns. They have taken the trouble to write a particularly long paragraph to address the Native Title and overall authorisation process. Even to the extent to confirm the point I made last week that I felt that matters could proceed simultaneously rather than sequentially, like critical path, when they say "The Company intends to start civil and site works immediately after Native Title is received in parallel to the grant of the mining licence".
When I mentioned that I'd tried to get some sort of clarity out of KNAC about the state of progress, one of our colleagues on here said it wasn't for "retail investors" to go bothering other parties. Well, excuse me, but No. I don't see why any other party - be it UFO's BOD, institutional investors, KNAC, AA, the WA Government or whoever - has the legitimacy to pursue their own interests, be they in alignment or in conflict with each other - it is only right and proper that they do so - but "retail investors" should sit in the corner and do as they are told and do nothing to pursue THEIR interests.