My feelings - take them for whatever you think they're worth - are that the company has been too secretive. That "business plan" they released? It's very light on details, and full of light, fluffy, aspirational assertions. Maybe there's more detail behind it. Maybe there isn't. As a shareholder, I looked at it and wondered, "So they're basing this on independent studies. Where are those independent studies for us to look at?" It shouldn't be that difficult for them to provide a link to, or a copy of, the mineral resource estimates; the mine plan schedule and pit optimisation; etc., etc. Even if you think that there's proprietary information that they should keep confidential, there's still a ream of data that isn't sensitive in that way, but which is not readily available for investors to peruse.
Also: where's the bankable feasibility study? The last formal update was in November 2020, when it was "well advanced". That business plan is not a substitute for a BFS - not with the level of detail that's (not) in it.
I'm not comfortable holding a company that seems to be unwilling to communicate with shareholders, especially when there's so much that's been left unsaid. That's the major reason why I sold out and took my profits (at £1.50). The only reason I'm continuing to follow it is because I do think the project has potential, and I might be willing to resume a position in the future - but the continuing slide, I think, reflects my concerns.
As I said: all of this is my opinion. Take it, or leave it, as you see fit. I'm comfortable with the decisions I've made, and that I continue to make, with respect to this company.
Add to My Watchlist
What is My Watchlist?