It's not hard to see that you are frustrated, we've all held shares where you believe the project will come through and it just continues to disappoint.
For me and knowing a bit about this space and working in WA, Coburn does not have sufficient grade to warrant a serious JV partner to come on board. The industy minimum cut-off is 3%, Coburn is 1/3 of that. (It's hard enough mine deposits at 3%).
Now there are many projects with HM grades well above 5%, some much higher and with bigger resources. The chinese have now aligned themselves with WTR, which is smart. I would be guessing that Dupont would be filthy about that, but hey, I don't rate them either.
As for DH, he's in a tough spot. He's relying on Posco, and if for some reason that doesn't come through, it's going to be trouble for him and GUN. I personally don't think a new leader will help for the reasons above.
As for SPP. I'm gathering that Johnny Tilbrook didn't put money in, love to know what his tie-up is with all this, and why he would have put so much coin into it.
Pep
GUN Price at posting:
4.9¢ Sentiment: None Disclosure: Not Held
