See below post by Michael. Ultimately it is because management (i.e. Pato and gang) are fools with not much sense or skills in the credit market and how to raise funds in an effective manner. As I've mentioned in the past, GBR has a great team of geos but useless in Finance. They did try to expand the board expertise by bringing in Karen O'Neil back in April 2022 but she's as much as a joke if not worse than Pato.
Look at how KRM did when she was their CFO to MD. Everything she's dipped her toes in after working at BHP has been a joke. Best to get rid of her and hire someone with real expertise. The cap raise throughout the last 6 years since Pato took over has been abysmal to say the least. This could have easily been at 20c with the same market cap. It's dilution after dilution due to mediocre management.
Maybe demote Pato to head geologist, get rid of Karen, and hire a competent CEO with real management skills or someone with some finance background.
GBR Price at posting:
6.2¢ Sentiment: Hold Disclosure: Held
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