RE: Re; Squeaky bum time27 Feb 2025 12:38
Totally hoodwinked by NIU. Clearly they do not have the money. Over 9 months since they 1st owned the $5m. Investor relations have confirmed they are looking for funding, so tells you all you need to know. Let alone under 1p, those shareholders desperately wanting news, IMO if the truth came out share would have to be suspended.
With the PFS, it's just small fish, no one is interested, hence why they were ultimately desperate and just went with NIU without any due diligence.
They have basically messed up big time and cannot face the shareholders. If they came out now, talking of legal action etc, and that there is no funding, share piece will be quickly below 1p. Clearly that is what has happened, they just cannot say it.
They dont even have the money to take NIU to court.
I watched Kitco Metals and mining conference, a big investor in this space suggested the only way funding would come into this space was if copper went to $6-7. There is a gluten of funding in this space, historically too many people have been burnt.
BOD seemed genuine, but they have totally messed this up, zero confidence of them ever building the mine.