Ann: Abra Construction 97% Complete - First Ore Stockpiled, page-29

So 2ic, a MC of A$300 would equate to a SP of 44c ?
Uncanny, that's the Petra analysts SP target. Me personally, anything above 30c will give return. I certainly wont be on the register by the time dividends arrive - if they ever do - miners love to re-invest FCF flow they can "grow shareholder wealth" - LOL - same old, same old sirens song.This translates to trying to immortalise the company by using the revenue stream for endless growth so that senior executives, BOD and employees will get low risk / high income for longer.
Mining is a constant diminishing resource, and only the BHP's of the world ever get enough long life projects bundled together to be able to extract dividends after making senior executives multi-millionaires. Most miners are Ponzi schemes reliant on investor faith and commodity cycles for their creation and perpetuation. Investors who recognise what will excite the market, and "buy the rumour", then "sell the fact" can flourish in the longer term.
Many retail amateur investors suffer from 'baggers syndrome" - especially if they've had one multi bagger stock success. They over estimate potential and underestimate the likely difficulties and the extended time things may take ... and unexpected things like pandemics and war.
Those who become rusted on "loyal SH's" will become frustrated and bitter as things don't turnout and the opportunity costs mount - sort of like a bad marriage. "Stop loss" is a great basic trading tool but can become hard to execute properly (with large holdings) if liquidity dissipates.
G1A has been a long hard ride, where liquidity has killed large SH's making trading difficult - lets hope 2023 will improve that as Galena becomes more of an institutional stock, and we long suffering "loyal SH's" can "redeploy" this underperforming capital trapped in G1A during the lithium and nickel boom to name a few. Signing off for Xmas - lets hope the NY will offer good things to comment about - cheers to all.