Explorers21 Feb 2024 14:32
I’ve been involved in explorer companies where they find a fantastic asset (like. hE1) but cash burn and delays with Gov permits, finding development partners destroyed shareholder value. This next stage is going to be incredibly difficult regardless of how good the find is. Remember big players can sit back whilst they blow through cash and get desperate so they can get a much reduced deal.
The risk reward for me is enough that I am prepared to go pretty big here but to think it can only go one way? I can list dozens of cautionary tales. I still own shares in MIRL ffs!