I have been impressed with the new management and decided to...

I have been impressed with the new management and decided to average down and I now have a cost base of 1.2 cents. The first thing management did was buy on open market at 0.007 and 0.008 to show the market they were serious about turning around this company. They were also saying the right things - reduce unnecessary overhead costs and consulting fees in order to spend more money on exploration. They also talked about being aligned with shareholders and being paid on performance which is what I wanted to hear. Actions speak louder than words, however, with that said management have already started to speak with their actions and derisk this company due to the acquisition of the new project, starting to diversify which is alway sensible to do in the exploration game.

I am now glad I topped up last week because management have now vended in a critical minerals project they partly owned, these guys seem like absolute operators, which I like. I am sure they have a plan for the legacy liability as well. I think they know something about this vended project that we will all find out in the next 12 months. They vended in this project because of the significant tax losses here which they will be able to use up. Why else would you vend in a project that you partly owned to expose it to legacy liabilities, hence why I think they have a plan.

I see this going two ways, this becomes a turnaround story or management are too good of ‘operators’ and end up with our company and the existing shareholders get skittled, they have done the above moves for their benefit as well but hopefully they have integrity and want the long suffering shareholders to share in some of the upside. Either or, I am in for the ride as at the end of the day you need to trust in management and they end up conducting the former approach stated above. I had already thought I’d lost all my money here so I am now more optimistic and will let this play out. All the best, cheers CP.