RFR 0.00% 3.7¢ rafaella resources ltd.

Not surprising considering the raise & lack of progress in a low...

  1. 1,213 Posts.
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    Not surprising considering the raise & lack of progress in a low sentiment background market for micro cap explorers/developers.

    Take the emotion of where you purchased out of it, stand back & take an unbiased view of the here & now considering what the story has been. The positive....Comba & Finx are potentially worth many multiples of the current market cap predicated on approvals. If Comba & Finx don't get traction (to date they haven't) they are worth nothing, the Canadian assets without drilling are worth what they paid for them....next to nothing. Value accretion is predicated on development approval which is allusive in the case of the Spanish projects & drilling in Canada. This is going towards shell value UNLESS they make tangible progress on the projects. Unfortunately the share register is fragmented, there's no activists/shareholder pressure on ST to get things happening here and that's the problem. This could just continue as is for a long time....a slow bleed. Watching from the side as I'd jump back in if things change & I can live with missing the initial jump if by some miracle approvals get ticked but the slow roast of zero progress & continued raises makes for uncomfortable ownership which was why I dumped. That's why I made the statement in the thread above about this being a 'lifestyle company'.....and then bringing in your partner into the executive? Now if that doesn't smell of 'lifestyle' then I don't know what does.

    Management make or break these opportunities. It's their job to make it happen. That's why we as shareholders pay them. You've had some time now to gauge management capability here.....an honest & sobering question, what tangible progress has been made against the capital they've raised? Is the current share price & its downward projection justified? That's the question I asked myself when I sold.

    I won't make further comment here unless I buy back in.

    Hope it eventually comes good for those invested- it could but I doubt it under current stewardship.
    Last edited by BerserkWarrior: 28/07/22
 
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