I look at it from a slightly different perspective. Happy to...

I look at it from a slightly different perspective. Happy to hear your view.

As you said,it takes years to create a mine (assuming a proven worthwhile resource etc etc).

So, doesn't that give a window for an explorer like RDN to work its way up to production (assuming the spod is there and of quantity, could be no for either point, I acknowledge) and then go into production when prices have recovered?

And in the interim, potential investors can buy in knowing that the 'likely' bottom in spod prices will (hopefully) have been reached long before the company is at LTR stage (and then suffer losses so close to the finish line / disincentivise future investment with declining share price and so on).

Also, I think with such a low SP and at such an early exploratory stage, RDN is actually cushioned / protected in a way - there is much more potential upside, and less downside, than investing in an advanced Co like LTR which is currently sitting at 94c a share. If that goes down to, what, 30c - 40 something cents odd, then you'd buy in right, but not before (others will have their own entry points).

Also, at p3 of their announcement RDN said:

"As part of the current program, the sampling crew will also be collecting samples on behalf of First Quantum across zones of Ni-Cu soil anomalism on E47/3181."

All going well and if FQM decides to proceed with the deal, that will generate revenue for RDN, too, to keep it afloat pre-income stream.