Well the only problem is that the company is spending more money...

Well the only problem is that the company is spending more money than it earns and this (with a few exceptions) for the last 10 years. It is an exploration company and the current assets do not deliver enough cash flow. And at some point of time this will end with not having money on the account and nobody willing to invest further money.

Obviously they changed their strategy from expansion (buying Mothae, Merlin, Brooking) to consolidation (selling Mothae) and this is accompanied by a mangement change.

Definitly this is not very encouraging because for sure at the end we will have lost money with Mothae and nobody exactly knows where we stand in terms of remaining cash and whether and when the next CR (with heavy dilution) is needed.

And you never know if in the background something is going on what we don't know.

This is the reason for the very disappointing situation where we stand now. And as long as we do not find the source and as long as the cash flow from operations is not covering the costs (which will be challenging because in next year we only get 40% from Lulo instead of 70% but at least we don not have to pay interest anymore) the share price will continue to fade out.

Let's all hope the best. In terms of assets Lulo is still a very promising location but that alone is not enough.