@Ninja TunaWith PMT the market knows they have more than their...

@Ninja Tuna

With PMT the market knows they have more than their current maiden MRE (so they'll be pricing in some further upside - just so you can factor that in to your calcs). I dont think people should include cash in their calculations, since its going to be burned with exploration

WR1 got to these low levels as the market lacks confidence in the company/CE. It became clear that Chris was not interested in the share price, and kept rewarding himself with easy performance bonuses while at the same time mismanaging the project.

CE has finally made a good move by changing his approach and fast tracking the initial maiden MRE, which will be later updated with additional tonnage.

Maybe he has finally realized that his approach to the Adina discovery was awful (he has been terrible at selling the story, terrible on managing the discovery - and maybe needs to go back and watch Tony Rovira from AZS and how he managed the Andover discovery from start to end).

WR1 / Adina definitely have more upside potential, and are definitely undervalued. What CE needs to do now is put out the maiden resource, prove that there's more upside potential. Maybe release an exploration target for Adina (again, refer to AZS) - then prove he'll be aggressive in exploration drilling at Adina + stop wasting time/money at Cancet. Focus on the discovery. Maybe even send a rig out to Tilly on the side? Forget Cancet.

WR1 drilling Cancet over and over would be like AZS continuing to drill for nickel (that the market doesn't care about) after they have already made a major lithium discovery at Andover (they obviously didn't do that - they focused all their resources on the major lithium discovery).

If CE is unable to do that, he really needs to go and replace him with someone that can.