That doesn’t make sense. Smith said a year ago he expected the first tranche of financing in early 2018. He said construction equipment could be on site last summer. He also said he thought the share price should be $6 a year ago. These statements are far more worthy of scrutiny than a simple quarterly update with actual cash flows or an engineering report stamped by a PE.
It’s these sorts of statements that caused Molycorp issues with the SEC. The difference today is that Smith has learned to keep them out of official PR’s. A factual statement on the companies recent activities does not come anywhere near the other questionable comments that have been made and it is a very simple request from shareholders.
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