Ann: Restructure positions Calidus for strong growth in cashflow, page-26

The difference here is that while SPR found a massive high-grade resource next to its mill and RED always had a good resource, CAI basically has stuff-all gold. Its scrambling (the word has been used before) to keep the lights on in the desperate hope it might "do an SPR". But honestly where is that resource to be found? Presently it's just mopping up rats and mice resources all round the neighbourhood. The scale and grade just do not look like the kind of thing that miracles are made of.

I am totally baffled by the psychology at work here. Someone said earlier today get out and put the money in WAF. I have said the same thing. CAI is just not going to come right easily or quickly with a lousy resource. Holding on is the silent scream of the reluctant loser not prepared to crystallise a loss (which I genuinely say with empathy having done my own pile several times) which comes with an ever-diminishing investment as well as a significant opportunity cost. Cutting and running at around 20c and putting the funds in a West African miner would surely have been a similar punt with much better odds. WAF has gone from 84 to 1.09 in the same month or so that CAI has gone from around 20 to 12.5. I use African miners deliberately as a comparator because the mindset seems to be to hope for a really high-risk recovery here absent gold when it might be better to seek windfall profits in a high-risk jurisdiction that actually has some.

I wish you all well.....