RE: Anyone for a22 Jan 2021 20:04
Kevman, it's because shorters and derampers have helped fuel a sense of too good to believe and people have fell for it.
They will tell you why wasn't the company acquired when the MCAP was very low, but they won't address the following milestones since those days:
- MT Flanks Licence
- WK DFS
- $7 milion in the bank
- No debt
- FSP with world class advisers: UBS, DLA Piper
- James Nieuwenhuys as CEO
The shorters and derampers also completely disregard the '13Moz target resource in Flanks area' and 'and 40Moz target resource in district', which has been specifically mentioned in the RNSs and company presentations.
When the MCAP was very low, nothing was in place, the company had no money to invest in infrastructure improvements for WK and the DFS wasn't approved. Hence constant dilutions to, as some have said, 'keep the lights on', in that kind of scenario, it's no surprise the share price and subsequent MCAP was as low as it was.
The BOD deserve a huge amount of credit to have got the company into the position it is in, and once the FSP is concluded, many will be kicking themselves for missing out.