The biggest take out from this announcement, is that this just...

The biggest take out from this announcement, is that this just updating a 2016 PFS with new price assumptions. It wasn't brought into production then, and the market doesn't believe it will be anytime soon. Really need to change out the management here and bring in someone to get this onto a pathway to becoming a producer.

This company is just a drill, CR, drill, CR lifestyle company for CE and MB and until that changes, there is no catalyst for the market to price it otherwise. This thing has just gone backwards since the MRE and they'll probably be planning the next CR before too long.

Also a good reminder to never have big positions in African/South American companies for me, too much sovereign risk.