There are two other reasons I think;1. Ukraine, Germany is far...

There are two other reasons I think;

1. Ukraine, Germany is far closer geographically than other project locations and aside from the general jitters, energy supply is a concern which affects many industries. I personally am comfortable with this risk as I do not think the actual war will arrive in Germany and we are a couple of years from production so I think the energy supply situation will be addressed by that time.

2. The likes of HFR at least and to a lesser extent CXM are MC was above SHP. Certainly for HFR this puts it more on the radar of fund managers/instos who often have rules around investments including MC. HFR is also far closer to production, this month signing leases for equipment. It’s where I would like us to be in a couple of years, including about 6 x the MC!! Big money ie funds/instos are waiting for the SS at least as evidence to buy imo.

A couple of other points:

CE: SP went up the day he left though lol. But yes, I do agree that it creates uncertainly and is a contributing factor to some buyers staying away as they wait and see. But flip side is we have a chance to get a CE closer to the action and suited to the next phases of development.

PR/Badly crafted announcements/quarterlies: I don’t agree with you here. I thought the quarterly was fine personally. I am not not sure what else you would expect? As for PR, I don’t think they should have started this too early but agree some foreshadowing/build up to SS would be good (not seen it). I hope they get amongst it when it lands!

Delays; if you mean the assays, this was explained. I contacted the company and posted about it here.

Finally, the SP fall from 26 to 9s was brutal. Totally agree. But I think we had run too fast and surpassed fair value hence the big drop.

Fair value for me is still in the 80-90m MC Range at the moment, with SS hopefully more 100-150m.

Anyway my thoughts, not advice.

Enjoy your Sunday and let’s hope we see a great SS soon!

Cheers
KK