While I think one day everyone will get behind vanadium, this stock is just comical. The million dollar question here is why, when we all are told daily about the huge demand there is about to be, is nobody (other than a token gesture by the local government of all things) willing to back these guys? Is it the deposit, which we are told by management is one of the best on the planet, or is it simply that funders don't believe that this group have the ability to get this project off the ground (after 10 years of nothing other than a BFS that made the stock crash)? I mean, what's a reasonable timeframe for all this? Oh and I'm waiting for the "world dynamics" excuse in some future announcement. Hate to tell you, but things change!! Might want to take that into account when working out forward projections, like the rest of us have to when running successful businesses that do more than the occasional cheap capital raise with mates as soon as management smell there might be a problem covering salaries and directors fee's!!
Just watch these options expire worthless again and see if you (had written we but sold my last few shares today) suddenly have another raise on your hands in early 2023. If you can't connect the dots on that, then I suggest you get out of the markets. You think if actual "vanadium investors" on the register were allowed to be part of these endless capital raisings that the share price would crash every time there was a hint of bad news, let alone what could easily happen now? Nope, but they made a bad decision, and obviously got advice from someone with no clue on how to morally (yes god forbid morally) interact with a share register, and I guess we're going to see the results of those decisions now.
One way or the other we'll also see if they have any motivation to make these options worth the paper they're written on in December, or will they sit back and watch them tumble and not have to issue more shares. Certainly seems that one answer is unfolding without a peep from the company. Announcing Copper Nickel and Palladium results recently was kind of funny, and as always, the ones who actually hold the purse strings punished the stock price for the misread once again!!
So based on my years of following this company, and in relation to their grasp of the financial side and shareholder interests of running a publicly listed company on the ASX, I predict that those options, even though I have a few in the bottom draw for now, end up almost worthless. Why wouldn't they?
Expand
(20min delay)