Not the greatest of quarterly reports. The most concerning thing for me is the MRE delay. It was previously said they were waiting on the consultant. It now looks as though they are wanting to get as many assays in the update. Sadly I think it will be underwhelming, and the share price will be suppressed for some time:
1. Current cash burn we will have to raise again soon;
2. Any lift in share price people will be looking for exits I feel - management have not handled things well on the timelines and communication front;
3. Not sure how long the newly placed shares will take to churn through;
4. Gold now seems to be the by play, not the main game…
Only upside I feel is you have a couple of REE experts saying how good this deposit might be. If it fails their reputations will be hammered - so hopefully we get something from that.
Rather sad really they appear to have taken a promising prospect and turned into puppies chasing cars on the next big thing……
Bottom draw I feel, hopefully there’s good news on the horizon. Good luck guys I feel we are gonna need it.
ASR Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
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