Mate, The delays are bulls#^t, but a 200-250k oz MRE is not going to support a 50mc when they have no cash. (Not at our grades anyway). The expenditure for the REEs has not been huge IMO, as many holes had already been drilled.
I'm very glad they are not pushing the rare earths to the back, as with only gold in this market, where would we be? We were at 2.2c back in Jan before the REEs, not a lot of cash, and some barely in the money options about to expire.
If they had left them it would have been a raise at 1.8c leading into the markets we have now. Not sure we would have held 1c.
Now, if they were going to raise before the MRE upgrade, why not do it with a 5day Vwap of 3.7c? Who f*&king knows why not! We we're going to blame them for tanking the price then, the same as we are now, but with more dilution.
Anyway, that's enough from me and my big bag of options that are probably worth 0.2c right now
ASR Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
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