Well that seems to be all the experienced and competent board all walking out the door. So assuming this is Bob Ramsey's baby and he is walking away, I assume he has been the custodian of the Robe Mesa Iron Ore project and has spent the most time and has the most intimate knowledge of the orebody and project.
Not surprised investors rushed for the exits, pretty amazing that an experienced board can't find any agreement on a path forward from here. Quite stunning when you think that all the options were on the table all the way from proceeding from PFS to a DFS all the way through to selling or JVing out the project or even disposing of it altogether? Looks like no-one wants to proceed with the project or risk their reputation on it so it might be a reasonable assumption to suggest that the PFS economics were awful? Or the quality of the PFS was so bad that it was worthless? Probably a lot of the drop is also people rushing for the exits because absolutely nothing is going to happen here now while they rebuild a new board, the only short term possibility is an absolute lowball opportunistic takeover bid from elsewhere.
Sure this does not change the nature of whats there in the ground but it certainly makes the possibility of getting it out of the ground even more unlikely now.
Too late for me to respond now anyway but I only have a trivial holding so guess I am stuck
CZR Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
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