That is a huge call, Semi, given that BSM is on track to be cashflow positive by the end of the year, early next at the latest (all things permitting).
The ONLY mistake I made was not seizing a 3-bagger profit and moving on from Bass before they reached Nameplate. I had my reasons at the time such as CGT implications and was convinced that the SP had a few more pips in it. All the hype and speculation was in the buildup to the recommissioning of the plant. Hype, speculation and ramping. Where the SP is now makes it extremely undervalued.
Make no mistake, I am aware of the quality of the resource WKT has, but I am not convinced that finance is just around the corner. Even then, who knows how the market will react when funding does come through. There will be a lot of holders that would give their back teeth to seize upon that 5-bagger that they passed up a couple of months ago.
The hype that will come with funding news should set the SP alight... I have no doubts about that. It may very well continue to fuel the flame throughout the entire development stage... there is no underestimating how irrational and excitable the market can get in the junior mining sector. BUT when production gets close to getting under way... look out. That's when I think the bubble could burst. Any production holdups and WKT will be sweating the $42 million debt repayments that never stop when production does. I like the business model Bass has adopted. Read the article I shared above (published in 2015 which has so much relevance in today's context) that substantiates my point of view.
Just because I am immune to getting caught up in the hype around here, does not mean that I am dismissive of WKT. I intend watching and observing, for sure.
WKT Price at posting:
23.5¢ Sentiment: None Disclosure: Not Held
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