Very interesting, if DCX share of Carnaby (CNB) tonnages would be only 7.9 %. This may mean free fall of share price until this bottom price has been reached, if/when old Latitude owners would stop supporting the share price.
In Carnaby early stage prospects are valued as zero, and in old Latitude assets there is practically tenement applications with some historic mainly boulder data outside the Kuusamo Juomasuo-Ollinsuo projects. Those projects are in the core travel region of Kuusamo.
It is true, that old Latitude directors know and knew more than market (and DCX directors should have known if any real due diligence was done). But this is not positive for company value.
They know that they do not have a case for a mine in the regions they are now heavily drilling and investing.
It is the same regions which former asx-listed Dragon mining sold them for some 300 000 euros including some land, Dragon failed to get acceptance of City of Kuusamo. It also failed environmental impact assessment with the difficult uranium-thorium containing ore and effects in the core travel regions. The situation has only got worse with the social license and Kuusamo has repeated the policy of the core travel region. There has not been signs of any true effort for EIA and addressing the environmental issues of the mining by old Latitude. These are also not worth trying, because lack of social license anyway.
Latitude´s other prospects in Finland are also very expensive high risk projects just with 2 million for annual maintaining fees after accepted and even with current share price its further financing would mean massive dilution and decline of the share price.
