In a word, INCOMPETENT!
I'm sorry but Arafura have a good many people on the books, they should be all over this stuff and had this well in hand before expiry or another solution in place - BEFORE EXPIRY!
So many eyes but nobody watching the ball, this is simply not a good look.
Completion of debt funding was hailed as one of ARU's major achievements in 2024;
"This is a pivotal milestone for the Company as it paves the way for securing the strategic equity funding required forFID."
That being true, then so is the converse now;
The achievment of that milestone is removed and risk is now added in the same way achievement of that milestone derisked the project.
(Did someone recieve a bonus/performance incentive for achieving this milestone?)
Allowing this kind of errosion of the foundations that the company is building on will lead to a catastrophic fauilure.
If they can't get this stuff right what chance is there for this project?
