This just isn't making any sense, these guys seem to hold back news, they proved this with lack of announcements surrounding the Lynas Find project in Aus, can't tell if it's because they're giving their mates a chance to buy cheaply or that the news is just no good and giving their mates a chance to sell. All things considered the share price should not be this low. Consider:
- Cash at end of this quarter should be around $16m (plus another $3m expected from the Lynas sale)
- Our market Cap is around $19m, so we have an EV of $0
- We have a maiden resource of 10.3Mt valued at $0
- We are waiting on Met Testing results which by all annoucenemnts to date should be positive
- We've been led to believe it's not if we can produce battery grade lithium carbonate but how much we can produce from the resource
- We're waiting on Phase 3 drilling results which should firm up our resource and perhaps expand on it
- We read articles about how DKO management are on the ground meeting local reps to try and get approvals in place
- We're waiting on the evaluation of an alternative listing
So, yes, there's a lot of waiting and a few maybe's but an EV of $0 just does not add up?
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