Bottoms are hard to pick, and at risk of getting smelly fingers....

Bottoms are hard to pick, and at risk of getting smelly fingers. IMO 15c looked a 'value' bottom simply on the basis that 10c seems ridiculous. 10c with $10M cash means a 'market equity value' of only $20M. I'd buy that and sit on it for years no problem, a quality asset at speccy exploration value...

That said, when a major sub holder wants out and is willing to sell 0.5-1M shares per day into an illiquid and nervous stock, during a pending coronavirus pandemic and god knows what sort of long term economic damage, then the price can always go lower. Short term it's all about Colonial.

I was looking at some possible new capex and equity gap scenarios today based on the market update from SFX last week. I think I know what they have in mind, strip out the zircon circuit and significantly drop the capex again. I will post something later.