Hey DAZZEL - I understand your thinking but it ignores the...

Hey DAZZEL - I understand your thinking but it ignores the possibility that STM pulls a rabbit out of their hat.
What do I mean by that?
Well, plenty of people on her have been bagging management about not having done a JV.
I for one think that would be very dilutive for all of us.
However, a placement to a cornerstone investor - at a good price - would be a confidence booster and lift the base for the share price.
Of course it would need to be a good name that comes on board and it would ideally be a higher price than the current market price.
What are the odds?
Not sure but management have a fair bit of skin in the game and it looks to me like the Top 20 holders are pretty loyal and unlikely to be giving away any cheapies.
Management may be disappointed by the share price, but they are not depressed about the projects.
My impression is that they remain buoyant and confident in delivering the 10 million OZ at Bramaderos.
El Palmar and Verde Chicco are cream on the cake!!!
Limon should be the starter pit and should simply ensure that development costs can be recovered quickly.
Once capex is repaid, the lower grade stuff can be mined for many years generating strong cashflows for yet more drilling of other projects.
We may be in production before Solgold!!!
While 15-20c may seem a delusional target today, it may not be if they can get a cornerstone investor to tip in $8-10m, prove up Limon and deliver a strong PFS.
While none of this is certain, this is the journey we are on.
Keep hoovering up the cheapies while they are on sale.
Cheers,
DDD