Nice post, agree with a lot of these sentiments.
I still feel like we will get a little pop on the release of the PFS, but expectations of the size of the pop are a lot less now due to the reaction and quality of the last announcments (would need to be a dramatic change in presentation and info given and PR surrounding the release.) How about putting some effort into it, couple it with some interviews you can release on youtube and share across social media to get some interest.
The free options definitely did help the case, and like you left scratching my head as to why they did this raise, diluted holders at low prices this close to a release of the PFS , when it wasnt even a good deal, the money was not needed, and could of waited until after PFS at a presumably higher price to do this.
Still some good trades to be had, but unless management pull their finger out going to be hard to get this above 2 any time soon.
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