So I've cut half of my position which admittedly was too large to begin with. Do I see potential upside, absolutley. Do I see too many red flags to justify the risk taken, absolutley. Maybe the joke will be on me, but also considering we might not have anything to work with at Voyager.
I saw the cash report like everyone else which of course includes no activity from drilling which is going to quickly begin to drain coffers. That cash report will look substantially weaker come April with likely no revenue coming in. Once in production we are still very far away from substantial revenue.
My main gripe is the slippery communication from management. Is there gas in Voyager- probably. Is it really 8.8%, highly unlikely I suspect.
I think we have another cap raise with H1 2024 and think it will highly likely be lower than the last raise.
Again, I know the upside if everything is fully functioning. For small holdings, entirely appropriate. But for larger holding- definitly time to scale down.
BNL Price at posting:
1.8¢ Sentiment: Sell Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)