This is the nature of this end of the market. Some companies are way overvalued and some are way undervalued, we fall into the latter imo.
No doubt the company is going to have to raise more money, such is the need of exploration companies. What you are missing though is the register is far from blown out here and most importantly, the nature of the mineralisation is "like a coal seam". We do not need to drill hundreds of holes to put a big MRE on the table due to the consistency and stratiform nature of the reefs. I expect this is going to be a significant MRE on the drilling to done to date. Furthermore, the consideration is going forward that adding to the resource is not going to cost huge amounts of cash either. This in combination with the discovery of further reefs and the possible extension onto the newly acquired ground and it will become more obvious to the market that TM1 has a tier 1 resource with great metallurgy. At some stage this will lead to a significant re rate IMO.
Patience is required but personally I think there will be a significant reward if you can ride the ups and downs until the market understands the resource that TM1 is sitting on.
GLTA
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