I think ppl should cut them a bit of slack as they haven't had a lot of capital for exploration for most of this year, but they do have great assets.
Rather than going to the market and diluting the hell out of the stock, the board has adopted a more creative approach and cut their fees and gone into preservation mode. This doesn't mean nothing is happening. James has just added significantly to the portfolio at a minimal cost, so well done to James for that, it could turn out to be a company maker in time. Mt Venn is still simmering and on the verge of a major discovery and there could be more deals in the wings.
The strategy is to work smarter to build value before any major raising to avoid excessive dilution and enhance shareholder value. I don't know what they will raise at, but $0.20 is only $12m market cap and a bit of clever thinking could easily get them there and beyond. A good CEO with a bit of creative thinking is priceless, so lets hope James can get the job done.
CMO Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
