RE: Certainty given to the market19 Nov 2025 11:12
Thanks for your post Goldbuguk and for your realism on the board. I think you correctly assessed the MRE. Key point - economic viability of tin not proven at all - just suggested (credibly perhaps but not proven). We had all hoped for more.
Can I challenge you first paragraph however? The price of funding for the next phase would be naturally dependant on the MRE. I think the board has no reasonable choice other than release it, then go to market. For the long term, it's not great to screw your placees anyway! As for IRH and Stanvic, do we know if they are involved or not? In the grand scheme of things, the difference in dilution is pretty minimal given the 10x nature of a successful outcome anyway.
The blow to the management team is not insignificant, sad news. But the plan is clear - drill deeper for tin. We have a great chance of success, and a credible path to confirmation coming. Regarding newsflow, it's a while for the next key milestone, but some initial readings could come in weeks and how will the SP react if we get a very strong indication? The political situation has also improved - which was likely the drop to 15 months ago.
Of course, the hangover from missed timelines and a disappointing MRE will still weigh on the stock.... which is why it isn't back up to 30! Time to buy!