The company previously had a well defined strategy, part of...

The company previously had a well defined strategy, part of which it executed very well.
That was the establishment of a mill at Boorara to process ore from that deposit and six satellite sites
However that strategy came undone due to the prohibitive cost of establishing a mill in the current environment.
The company then floundered and the board of three became fractured. Parekh wanted to press ahead
with mining on a toll basis but the other two directors opposed this move. I am unsure as to what alternative strategy they had.
Eventually Parekh won out, the $5 million convertible facility was obtained (now fully drawn) in tandem with a revised strategy of developing the three underground deposits first.
But we only have a 200,000 tonne allocation at the Greenfields Mill.
Unless we can eventually gain access to a far larger tolling allocation allowing development of the open cut sites I cannot see this stock reaching its true potential.