Given the selloff implies he doesn't know what he's doing I'm not surprised.
I mean the guy can see all the geological information. The gravity and conductivity surveys plus exactly where the drill holes went (not necessarily where aimed). He can see the strata formation and grades. i.e. if he needs to vector to mineralization based on what he has found out relative to the EM & gravity highs. He has a lot more knowledge than we do.
That and he (and the other directors) has sufficient experience to know that the current meager market cap/price compared to the fair valuation from the PFS. Further, he knows the exact cash burn rate from the drilling and can dial it back if necessary.
Anyway, a lot of the drilling spend is for DFS which warrants a higher % of NPV. (nor is that missing).
I know I'm just spelling it out but it appears it's warranted.
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