...your focus and energy should be on the culprits' not the ones who are benefitting from the opportunity.... shorters love this management team...they do what they do best...destroy the share price....and making us rich...
...now imagine if their compensation was based only on share-price performance....if shareholders make money...they get compensated accordingly?
...not this management team....they earned $2.5M signing bonuses...earn million $ salaries...topped up by consulting fees...look at the hotel accommodation costs....expensive restaurants... lifestyle management etc. etc.
....how much did Friday's 'ringing the opening bell at TSX cost shareholders in the end ?
Why was it necessary to fly c20 staff from Australia to Canada ...hotels...expensive restaurants to celebrate this travesty...and what happened? ....4% lost in share value loss on the day they rang the bell...embarrassing!!!!
....that is after 90% value destruction and they have the audacity to stand their with smiles.....massive celebration that they have duped how many investors these last 18 months....make millions and people lost their lifesavings....
...Again: for the avoidance of doubt.... have a look at the latest quarterly...and most recent financial statements....the people that should be skinned alive are the ones spending $22M/year on 'admin & office costs' during exploration after a 90% share implosion... milking shareholders every moment they get....Friday's opening bell is a perfect example of this....
...but hey...look at the recent announcement... we will do basically nothing until Q3 and be paid >$10M of your hard earned cash..... project managing project managers who are project managing ...and then outsourced to consultants....
Bottom Line...
>80% of $325M money raised...gone...'300,000 meter' of holes all over the place......while management team spending $22M/annum on 'admin and office' cost.......everyone knows that without a share buyback or an imminent buy out...the share price would continue to collapse by another 80% 'by Q3'...
...my view...just more carrots for the donkeys......that is after probably $60M of the $325M was probably spent to date on things to maintain their lifestyles....
But please buy more shares...I need your broker to lend it out,...so that I can short more....and hopefully by 2040...you could potentially receive a dividend... say $250M...that is after the management team would have earned over a billion by then....then divided by 50 billion shares.... because that is the only way they would be able to structure a FID funding package at this stage if the share price collapse another 80%....
..that is the reality if you don't preserve your share value pre FID... CA$23/share fund raise round and you guys are at $2.4/share...everyone is going to be diluted until they kingdom come....that is assuming that there would be appetite by lenders to fund another basket case lithium project...
...but I guess...management doesn't care...look at the last 18 months....90% share value implosion and they are now spending $22M/annum on lifestyle....while shorters are making a killing.... c20 staff was flown business class from Australia to Canada to celebrate opening the TSX bell...that is after the share imploded 40% in last 30 days....90% to date....
...question is...who really needs to be skinned alive here?
....I have now recovered all my long losses so I want to thank them ... and I will increase my shorting this week again... I see there are another 3 million shares currently available to short ...and I want to thank them again for doing that they do best.... Friday's opening bell travesty is going to pay out in spades next week....
See you at sub $0.10 (ASX)....soonish....
...my two cents....
PMT Price at posting:
26.5¢ Sentiment: Sell Disclosure: Not Held
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