Really appreciate your level-headed response here!
It's going to be a bitter pill to swallow for sure, and dreams of big returns have mostly slipped out the window. Personally, made some buys in the mid teens, so looking at 70-80% loss in one fell swoop on them once we trade at 4 or below is going to be rough!
But that's what you get in the small cap end, big losses and big wins, and you've got to have thick skin...
We got a raw deal, as many assurances were made that fell through. Bazza defs should be held responsible to a point, and looks like his place is operating an SXEW, and not facing the public and chasing finances. We're gonna be smashed by dilution and into the low cents range, and I'll admit that my calls have failed here, was sold a dream that didn't materialise and I imagined a healthier market and appetite for copper, but the crunch has come later than hoped... But again, that's the risk of this end of the market!
Saying that, we seem to have a clear redemption story to go through now: - Fresh faces with experience, especially in the financing side of things - New board putting their money on the line - A new 10% cornerstone investor who will want to see strong returns and the mine becoming profitable ASAP - A healthy cash position with debt available - Some big copper deposits and what will be a cash generating mine, though copper prices do need to lift back above $4 per pound
Like you, I've had a look at the copper options in Aus, and by pure grades and copper in ground, CYM generally smokes them out the park! Would be interested to see that spreadsheet of yours and compare!
Best of luck to all longs here, hopefully all the hyenas stirred up by Bunny from other forums get tired and take their useless snickering and snivelling elsewhere soon!
Looks like 2023 still aint our year, but fingers crossed for 2024 haha!
