Maybe this post is a little premature. But I'm getting the...

Maybe this post is a little premature. But I'm getting the feeling that JRV is heading towards VA. Rationale as follows:

• The SP has broken through downward support of $0.014c and is most likely heading lower.
• The Cobalt price chart is also looking to break through the previous low set in July 2019.
• There is emerging cobalt free battery technology (lithium-iron-phosphate) which has the potential to change the long-term demand fundamentals for this commodity.
• ESG issues - much of the world’s cobalt deposits are located in politically unstable countries. Cobalt extraction creates hazardous working conditions and generates toxic waste that contaminates land, air, and water surrounding the mines.
• Management have already pulled the trigger on a capital raise. I dont think institutions and retail investors are going to double down on what would be a deep capital loss (pouring in good money after bad).

Not sure if I'm missing something, but I cannot see a way out for JRV short of a miracle increase in the Cobalt price.