Management sold Paulsen east when IO prices were ~US$140/t...... Yes, they probably sold for a little less than its worth but they sold at the right time, IO is now $110/t. If they didn't sell, they'd be raising at sub 5c or dumping LEL for 30c.
Gold Valley who bought in Wiluna are on the cusp of care & maintenance at ~US$100.
Mining a resource is not as easy as writing comments on an anonymous stock forum.
This management team are not miners, they define the resource and flog it off, usually at the wrong time for a kick back which feathers their nest.
IMO, LEL SHs got screwed more than SRK SHs. Once graphite is spun out, LEL have cash only. SRK at least have a high grade magnetite mine albeit in Peru.
The same play will be implemented on their next purchase IMO.
Ann: Sale of Solaroz Lithium Project for A$97 Million, page-183
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Mkt cap ! $40.32M | |||
| Open | High | Low | Value | Volume |
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| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 26119 | 1 |
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