Ann: Quarterly Activities Report and Appendix 5B, page-135

I think you are spot on. Only someone very bitter about something would spend this much time downramping a stock with much better odds of success than most other small caps. Why pick on this stock and me as well while not trying to rescue those holding stocks that actually do look like they are bad investments? Makes no logical sense at all.
However;

"@chuk and his followers hurled abuse and ridicule at my initial opposing views to their excessive unjustified ramping"

That post shows that it's obviously very personal. I wonder how much he lost on this stock and if he blames those losses on me for him to be so bitter to spend this much time trying to push the sp down. You can see how much he enjoys any weakness. He claims to be here to protect others but the reality is he hopes to see me lose as much as possible on this stock regardless of how that would impact other holders.
Anyone that actually knows enough about small caps to make money on them, wouldn't be as bearish as he is on the sector. So while he claims to know the sector, the opposite is far more likely.

The reality is that it won't matter if anyone here ramps the stock up or down. The sp will ignore all of that in the end and perform relative to the company performance. The delays to date are reflected in the current sp. The sp will later reflect the cashflow.
When it starts to rocket higher on positive cash flow, the downrampers will disappear.
Those of us holding through these corrections don't disappear because most of us post what we believe and have no reason to hide.
I'm looking forward to seeing them go quiet after the cash begins to flow.
It's a real shame that they can spoil the threads with their spam volume of posts to the point that some will probably be put off HC.
Having a go at picking conservative target share prices based on hard evidence such as a DFS is anything but excessive unjustified ramping.
Excessive unjustified ramping is exactly what Merchant is doing.