Yep. I've been in since 2012 and this is the closest this company has ever been to actually creating sustainable shareholder value.
Back then, Venture was relying on drill hits and the resource size of Mt Lindsay (not the economics and politics of it). Then, as iron ore took a run, new short-term investors jumped in for the DSO at Riley...which due to a combination of poor management and poor luck, fizzled out before it started (people severely overstate the contribution of poor management....even with good management, the iron ore spike was effectively over before it started and we would not have made significant "company-making" profits from a few more profitable shipments of low grade ore).
During the doldrums following the iron ore spike, AR displayed his usual combination of geological competence and corporate incompetence, acquiring a number of promising tenements (including Jupiter) while doing nothing to inspire confidence from shareholders, with poor communications and a lack of strategic corporate planning.
Then, in 2023 we drill Jupiter and start to see what a behemoth we are sitting on. And instead of the usual scattergun approach, the board finally stops fidgeting and actually focuses on the one resource. We have a change of key personnel, a change of strategic vision, and essentially we go all-in on proving a monster resource that could catapult this company into sustained wealth.
And yes, that means we have to divest some of the assets that some LT holders still have a soft spot for, and yes that means we have to CR and dilute to fund this strategy. But that's what it looks like when you push your chips all in on a pair of aces. You have no guarantees, but you're playing to strength...and history shows that's how big wins are made.
Personally, as a LT holder, I have little interest in the company playing it safe for the next few years, and squeezing out wins here and there. Investing in small-cap explorers is an informed lottery ticket, and you want your ticket to pay up big if it comes in. If it doesn't, so what....you tear it up and buy another ticket.
But surely people can see...this is the first time in years that we're holding a ticket that, with a bit of luck, could change our fortunes in a massive way. I would not want to be sitting on the sideline for the next bit of substantive information on this resource. Bring it on.
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