The MRE ran up prior to around 18c from memory because management implied it would be 50mt. The prediction fell short, so the SP dropped.
But that also shows what the market was valuing 50mt at.
I get that you're unhappy with how things have happened, obviously us long termers don't like seeing the SP decline and subsequent dilution but you can't ignore that there are catalysts to reverse this.
You yourself are commenting above that "they will pump this" and you're probably right, with the best time for them to do so being the release of a positive MRE. If the MRE meets target this time, it's quite bullish.
I think you've let your distaste for management blind you to the good points here. It's not so black and white.
Important catalysts:
- MRE reaching target + unlocking cashflow from taurus (very bullish if they achieve it, very bad if they don't) - PFS giving us certainty around numbers and processes - Updates on permitting moving forward DSO
Until then it's just noise and as others have noted, the major holders are not selling out....
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