RE: Strong year end numbers across the pond19 Feb 2026 11:01
I think the positioning of the whole thing is really interesting. DB has focused heavily on removing the narrative that Metals is a explorer ("it's a producer!") and therefore should be valued as such. But in reality that's just not the case, and we're feeling that as shareholders. All Run is doing right now is financing the development of the next project which is the equivalent of an exploration outfit with a proven out resource being financed and that company being in the development phase. In some ways, Metals as a company has gone backward from.being a profitable producer to startung ovwr on a new project, and thenloss of.dupax has got people realising that metals isnt as bulletproof as Darren has made out it is.
As much as I see the "LaSsOnDe CuRvE" waffle as being largely irrelevant, I can see its application here.
Whether he likes it or not, and as efficient as the La India development might be, with not securing another opportunity SOONER, Metals has been re-smacked with the reputation of exploratory miner and is now being valued as such.
Add this to the fact that we're not seeing the exponential financial benefits of the rocketing price of.gold, I can see.why our price is depressed, and far below where it should be.
I'm flip flopping between being comfortable with our position and actually being frustrated that what metals was initially bringing to the table (security and finance) has revealed itself to be not be as nailed on as was initially presented.
It turns out that the Condor acquisition has been the bigger win for Metals, rather than the other way around, because right now Metals wouldn't have a business.
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