For me that CR in May 2024 is not what took the SP down to the 40's. The SP started to tumble towards the end of 2024 and then very significantly after the DFS released. The CR in May 2024 was necessary in my view and done at at a time that $1.00 could be achieved which minimised as much as possible the dilution
My take on what has driven the SP down in the last months are investor fears on more CR and investors holding back to buy after this CR. Its all psychology and can turn rapidly one way or the other
As for NAB, board room bust ups etc, I have very good experience being a high level board member myself. Personality clashes, bust ups happen always and it always takes two to Tango. For me key are the hands on CEO's and not the non exec's. Not saying CE has done a great job, but then neither NAB or anyone else. Best job seems to be the guys in Chile that are getting the land deals done that even allows the dream of HCH as a copper producer
I can just guess but expect the board room bust up is about strategy - sale of Costa Fuego (quick return) vs development with a key partner (slower. higher risk but potentially much larger long term returns)
HCH Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
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