Ann: CEO Small Caps Interview on the Recent MRE Update, page-104

I think it was the start of a pattern. The pattern of overpromising, and under delivering.
The “being surprised” comments by the CEO about only being able to include the indicated resource according to Australian rules, were not very believable in my view. The hype going into the scoping study did not match the actual results. Low IRR, high capex, so not add all the amazing snapshot in time he was constantly babbling about. The market overreacted, for sure. But company disappointments are always over reacted to by markets.

I think the resource in Alaska is still very promising, but the company needs to start listening to shareholders instead of just pumping out messages that everything is amazing. Shareholders can see through the hype by now so just focus on the basic value proposition and also highlight risks and assumptions, rather than introducing moving targets and Goldilocks scenarios.