"Did we get value for money on our spend???
Current share price regardless of Macro says no?"
You can't be serious?
How exactly did you come to that conclusion?
They've spent (from a quick look at financials) say $25M on the REE, and for that spend have a world-class REE deposit/source for the region (and plenty more resources, discoveries, value to come from the REEs).
No value for money, means that you're saying that they can't get $25M + $1 for the Mangaroon REEs, let alone many times that?
Can't be serious surely?
The SP has nothing to do with value for money spent, as you're an investor and have been playing the long game, meaning that you're not selling and are waiting for the monetisation event(s) (and yeah, let's ignore the macro which has smashed all juniors like DRE)?
SP would matter if you were a trader, but then again, value on spend wouldn't matter if you were a trader as you wouldn't be on for long enough to care about long-term spend?
What matters is that the spend has been massive value for money, and we'll see how much of a return when they progress it a bit more and then sell it off, and how much they get for it, compared to that $25M that they spent on it.
Hopefully something like RHI, a couple of years ago; MC was $60M, and then announcement that they've sold their project for $400M (as in, something like RHI with the project sale amount, not the $60M MC before sale lol - point is MC/SP doesn't matter when you have an asset that's being sold as the asset sale price/amount isn't determined by the SP/MC but by the value of the project).
Anyway, see how we go from here, but 0 chance that we didn't get value for money on our spend, IMO, per above reasons (we'll see hopefully in the near future about the return on that REE spend)!
Cheers,
GB.
ps. 6 announcements (plus the AGM) due in November, and November starts tomorrow, so hopefully we get another announcement tomorrow as 6 + AGM in about 4 weeks is plenty to fit in, so getting one out of the way tomorrow wouldn't be too bad!
(20min delay)