Hi keepingitril, you make a good point, mostly for NAmerican...

Hi keepingitril, you make a good point, mostly for NAmerican investors (used to tight registers) and some retail investors. Less educated retail investors think 3c is a penny stock. This is an explorer to P:E will not come into play, or is unlikely to.

I think a significant discovery would soon have global investors sitting up and taking note; whereby the value of the company becomes the key issue over and above a messy register. If liquidity increases substantially it should not be a big problem as we have seen on strong rallies in the past.

I had a client once that eventually asked me "what is this market cap you keep going on about". That was a shock to me, a fundamental missed fact. He though share price measured the value of a company. Yes a share consolidation will be advantageous at some point but I believe the likes of Paul Chapman and the Board are savvy enough to do that at a sensible time in the evolution of this company. A few scenarios come to mind.

IF the carbonatites prove up to be more significant; then a sale may be contemplated. Say the project advances to a value of 100's of $M's and a deal can be struck to sell the DRE rights to all REE's and associated minerals for say $90M; then the payout would mean a 90% boost to the company (at the current valuation) that might undergo a capital return to shareholders of 40%; keeping $50M in the coffers. This is fictitious of course but you get the point. Paul was behind AVB, SLR (B$'s) and several other success stories including a currently lagging BC8 - MEK is also doing well. The Ni JV could play the same role and either project could yield even more to the company and shareholders if nature has smiled on us - more work to do.

While I see your point (and agree) that the register is "messy", I also feel that will be dealt with cleverly. These are not cowboys and their track record proves that. I own the same share of the company as I would after a consolidation of the register at present. I am not put off by this. We are looking for the value in the projects; so bring that on DRE. The REE's have been short term 'bad' on the share price due to exogenous circumstances. I am prepared to wait until mid-2024 to see what that yields as their first "discovery" off the ranks as far as commercialization is concerned. I hope any inexperienced players reading this can increase their knowledge a little via this little missive and your comments @keepingitril.

Show me the gold DRE I believe that is their focus now as FQM finance the Ni-Cu prospect. They will keep the other tenements in good order too as this is a busy team "blessed" with some highly prospective ground - some of it overlooked in the past by other companies. Look at GOR and Tropicana, DEG and other discoveries considered outside the box but discovered by savvy exploration geologists. They create the value whereas the producers buy the projects thereby monetizing these discoveries. BHP have billions of shares on issue; just saying...

GLTAH CW