Originally posted by Spoilt
A lot of people who invested took that into account hence why they’re invested... you don’t think they would have bought on the points you have mentioned? Yes great tenements, mining friendly jurisdiction - a proven motivated team? Maybe in an alternate universe, and that’s whats dragging us down.
Yes general market sentiment around battery minerals may be poor right now, although it doesn’t change the fact that we’re not in a very different position than we were since IPO if not worse.
Drill results - yes that’s what we are all waiting on. These are not things we have overlooked - although with your self proclaimed “proven and motivated team” a lot of our great tenements have not been developed to where we could be given how much time has elapsed and that’s where we need to be realistic about things. No matter how great our tenements are, without great management to delineate and develop these resources they may as well not be there. We are moving very slowly and the risk is that this might not be able to be sustained.
There's no right answer to how to manage an exploration company, but I personally don't see how I could have done anything different since inception if I was at the helm. A lot of people complained about drilling Adina instead of Cancet earlier this year, but if they hit wider intercepts that would have been everyone's favourite decision, and if they had drilled Cancet before doing the proper follow up summer prep work it would have been something else to complain about.
All of the magnetics and fieldwork done during the summer months rather than drilling were a choice to make sure the company is set up to launch multiple drill programs now and into winter and now that's all happening.
A lot of people also complain about 'too many tenements and not enough drilling', but there are plenty of case studies of Lithium explorers just having one project and making average gains in share price while the market cap increases.
It also gives the ability to pivot to the most profitable projects, I'm sure we'll know after drill results which of Bay Lake and Rusty Lake will be worth pursuing first.
(20min delay)