The "rotary lie detector" has shown this anomaly as been from the most obvious cause - supergene enrichment from the granite source.
I don't understand how they could have been so confident before drilling. What was the opinion of the expert geological and geophysical advisors who should have known better? This was promoted as a new REE province with additional tenure secured around it.
Clearly the rest of the board was not so confident. Support for the rights issue by directors was poor other than Duffin who still did not take up his full rights. The majority of existing shareholders also did not participate. I hope the new shareholders who took up the shortfall do not feel duped (whoever they are - it would be nice to let the owners, i.e existing shareholders of the company know who now holds ~20% plus of the company post rights issue).
The destroyed share price and poor liquidity says the market has lost confidence. It is time for real strategy - we have good assets, none drilled for over a year. What is going on????
The only positive is the new CEO seems keen to get back to Browns Reef. Finally - hoorah!
EMS Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
