I reckon Oaktree will start promoting the company once the Saloro deal is officially finalised ie. after they have been allocated their shares at 9 cents. Hopefully, after that, the share price will start gaining some momentum. Was interesting to note that Saloro was currently operating at breakeven and any improvements in recoveries and costs from the recently introduced ore sorters would result in the company becoming profitable.
The most important point from the webinar for me was that management were not aware of anything that would have caused the recent share price weakness so as I posted earlier, it’s most likely impatient shareholders just wanting to move their money somewhere else and the fact that the shares are so thinly traded. Apart from some minor commissioning and processing issues which were rectifiable, it all sounded like everything was going according to plan.
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