Why Em2 will never sustain 70c in 2021
TLDR; nothing fundamental is going to change in the financials and investors are looking for bigger hype.
I see all these apes talking about $1 shares, and an upward trend for Em2.
Y’all are in dreamland.
And based on the level of slobbering enthusiasm and spelling errors, likely board members too.
Two things rule this jungle. Real progress and sustained hype. This project has neither.
Until they release a mining study with actual teeth (ie >$500m NPV) or evidence of a larger secondary porphyry, (with viable tonnage), then why would any big investors touch this historic backwater project? For its Plucky Potential? That’s for retail apes.
As for Hype, a month between updates is not going to cut it.
Do you know what’s happened in the world in the last month? More than your smooth brains can retain, that’s for sure.
Until there is a 24 live feed of 10% core, spewing out of the drill rig, (or some leaked nudes of captain Big-beard here), then this just gets drowned out in the hum of the every other junior with a limpwristed project.
And a second rig won’t do jack. (Assuming it turns up at all.)
Have a real good look at where the first rig has even been drilling. They’ve been suckling on the teat of “known deposit step outs” the entire time and are being as aggressive as my chihuahua after I had it neutered. what is this second rig even slated to do?
1- Similar sized step outs? Not gonna give you significant tonnage anytime soon. Needle still hovers on empty.
2- Riskier big-baller targets? Likely more failures and thus still the same amount of news flow. Or worse, more negative news flow.
So until they get aggressive with more rigs, (or hire a Hollywood producer) 2021 will see this stock eeking along at the whim of whatever random act befalls it, but ultimately hover where it is.
Call me in Q4.
