So, balancing expectations for: gold price, RPM Mid, Train,...

So, balancing expectations for: gold price, RPM Mid, Train, metallurgy studies vs investor expectations (low expectations according to the market cap), and discounted raising expectations.

So it's mainly a bet on whether some additional good grade ounces will be added in RPM Mid or Train, to improve the economics of RPM again.

If no positive announcements in that regard, then management would put out some 'fluff' positive announcements (eg. RPM being downgraded significantly, but calling it an increase in global resources), but not enough to convince people, so any future raising would be on the back of a low SP.

But if positive announcements from those areas, then a raising could happen on the back of a rising SP.

I guess now we're stuck in the medium term downtrend because of the RPM downgrade combined with a tough economic environment (rising rates, and inflation). The market cap is low enough that somebody could start to see value though, or a positive announcement would help.

August drill results due apparently, but that sounds optimistic.