Not exactly a boneyard special at circa. $127Mil MC, but it recently got smashed after a bad quarterly, so it's definitely headed to the boneyard. They dropped 25% today, and I feel like that might continue into next week.
I think the issue was the AISC is a lot higher than anticipated, the general gist on the forum is that they don't have enough money to support mining and all the start-up costs of the facility. Also looks like management mislead shareholders into thinking things were gonna run a lot smoother and cost less.
Bit of a doozy now, but might be worth having a look later in the year (maybe Q3) as the mine matures and they cover their debt. Should have a clear picture of what's going on then. _____________________________________________________________________
SUM
In keeping with the theme of this thread, these guys have an MC of $5Mil with 34Mil SOI.
Their REE project (named Stallion) has historical assays of 2,666ppm. If their drill program returns similar grades and a decent basket ratio of REEs, they might be revalued somewhere between $10Mil and $20Mil.
