"Hard to fathom the selling at these levels, particularly with...

"Hard to fathom the selling at these levels, particularly with such an exciting and prospective next few months of exploration drilling ahead. Even if they find noting Antler itself is a takeover target when money returns to the junior copper sector."... because of the curse of never ending CRs and reality of the Lassonde Curve. NWC spending $6M/Qtr, said they will spend similar $6M this Qtr, started Qtr with $8M cash and $2M unpaid invoices in Acc Payable assuming avg 1 month invoice terms... so by end March they have $2m cash, $2m Acc Payable and need another CR. So yes, a new discovery would send the price north, but they haven't made a new discovery since South Shoot in 2020 and unfortunately targets turn into discoveries 1 in 100 of whatever... The prospectivity of targets are in the eye of the beholder, and not everyone is enthused by carefully filtered geophysical targets.

"For those in the stock about three years ago you'll recall the stock ran from 3c to 12c on the back of the copper price running from US$7,500/t to US$10,000/t."... I'm a firm Lassonde Curve adherent, so the price is always apt to retreat after exploration upside stops being added beyond he upside already priced in during early success and excitement. Nov 2020 and the discovery of South Shoot was to be the first of multiple new lodes to the south at Antler, but it was pretty much one and done (and fairly skinny, pinch and swell at that). Exploration disappointment equals falling share price as winners get out before the study years pain for new opportunities.

Then the quick "back into production by 2024" on existing mining lease pitch turned into mine lease permit approval by end 2025 if your lucky, and interminable delays and continual missed guidance. The longer the diluting and value destructive Lassonde Period the lower the share price goes, so the much longer runway than sold to market has caused support to crater before years of CRs (gone and still ahead...).

In short, the money is made in finding not grinding out a DFS. Then again, eventually and from a cheap enough base when the market is expecting catastrophic dilution for the $100,s M of development equity CR to actually build the mine, a good enough deposit will attract M&A and maybe early holders actually get their money back for hanging around 5 more years?

GLTAH