Market seems to care about (first) produced ounces, self sustained income and organic growth. As an explorer we are not in the best place right now. We are in an time where a lot of people assume the market is going to crash and money will be even tighter allocated by investors then it is already. Our SP is dangerously low and the trust from shareholders or potential investors seems as low as our SP. Our CEO is in gold fever and wants to accumulate tens of million of ounces, which in my opinion is a noble, but atm it is not the right strategy anymore when there is no money invested in this sector. We need to get to production asap to fund our operation by ourselves or otherwise the lack oy money will crush us.
Regarding this topic, the quota which is shown on the promoter webpage axinocapital.de, "Christopher Gerteisen - CEO "We are not leaving Estelle before we have found 50 Moz ounces of gold. Huge potential for our shareholders!“" seems off. The slogan should be different and should show that we want to grow over the state of an explorer. We don't have the time to look for tens of millions more as our SP converges to zero while we are finding more and more ounces already - no shareholder value was gained so far in literally a couple of years. We should focus to become a real developer and producer after this drilling campaign which is serious about its future strategy. Maybe this includes also a change of a geo perspective CEO to a more production orientated one.
If they gonna find smth of value (VG looks promising) and they wont be able to turn the rudder around this time, I don't see how we can ever get back on track. If we gonna be lucky with RPM and we can extend the resource quiet a bit it is time to change to developing mode asap. There are quiet a few positive things I like about this company but nothing helps if we are going to 0 with our SP. We need some very strong supportive news, especially regarding finances and future financing. I just hope they know what they are doing as our Director of Finance is happily buying at these low levels. If he doesn't have a profound insight in our finances and the company's future strategy then who else?
Regarding our 85% share from our JV with AK Minerals Pty Ltd., which might also be seen as a stain by some investors, I hope they can make some arrangements with them regarding the listing on NASDAQ so both sides have a win win situation (they get some money before this goes down the gutter and we will have a higher SP). How I don't know though, I have no expertise in this field.
Overall it seems we are not capable of getting ourselves out of this misery, to many regrettable failures with supposedly profit-generating decisions by our management. The RPM downgrade (as much as it is likely and normal in exploring) came extremely unexpected (especially in light of the fact that we have a CEO with geo background) and destroyed A LOT of trust. With the quote above in mind it seems more like wishful thinking and trusting too much the old consultant at the time to get to the tens of million of ounces and become the next Carlin. We need to rebuild as much of it as we can and as soon as possible. We have now a more conservative viewpoint regarding what we really have and under no circumstance we should destroy that again (hope cathedral wont be another RPM). The management seems, at least to me, as they really want it to work out but unfortunate circumstances keep them away from achieving it. Maybe some kind of JV/Collaboration with another company has to be seen as an option to get this back on track and make some profit in the end before it is to late. The drilling campaign of 2023 is therefore extremely important and I hope we will be very lucky this time and no unexpected surprises will arise.
NVA Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
