Ann: Battery Materials Paydirt Investor Presentation, page-31

Can you imagine all those institutions and sophisticated investors participating in the CR at 24c to be down 31% in just over 4 weeks? I wander how many of those would have enacted stop loss selling. Management have taken too long to get to this stage. They have been talking about being in financing talks with interested parties since last year, but have gotten nowhere. Now the landscape is even more difficult for them to secure financing given the global economy is slowing and faced with high inflation and rising interest rates. Lenders less willing to lend and/or will lend at higher interest rates, which doesn't benefit BKT. Also as mentioned above, the cost of construction will also increase and could be potentially delayed due to supply issues. Yet, management bumped up their NPV, but the market is pricing in a higher risk premium and possibly factoring in the above issues into their valuation. Market is smelling something rotten or losing confidence in this stock, otherwise we'd still be trading around the CR price.