Thinking the same thing. Next 6 months Is going to be telling for the company in how they proceed. I wonder what went in to spending the 3 million in development? The new office looks to be worth 50k.
They will want to hope for a pick up in REE prices in the next few months if not FID will be surely delayed and only have cash for another half a year going off current cash burn.
Shenghe will be circling like sharks if REE prices are still in the bin in the next 6 months - year.
directors heavily underwater already since participating at 50c
Ann: Quarterly Activities Report and Appendix 5B - Dec 2023 Qtr, page-3
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