Quite a demise in the market cap lately. I did warn about this earlier in the year. I said that Mike needed to spend some decent money on drilling at all our exploration tenements to keep the newsflow and engagement up while the slow study related work was getting completed for Lake Hope.
Although these studies are seriously important for the overall dynamics and progress of Lake Hope to final investment decision, they are very drawn out and dependent on time frames of multiple consultants who are rarely known to stick to timelines. To have 100% of them stick to a timeline is next to impossible. It is always best to have other work ongoing in the background to keep the market engaged Imo!
We have been promised many surface sampling results for the past few quarterlies and we are yet to see results so either they are no good or they have been delayed again. Same for the long anticipated drilling program at Arkun. We should have already undertaken 2 or 3 drilling programs at our prospective and diverse range of minerals projects in 2024 imo.
I know this would have required another $5mil capital raise earlier in the year, but looking at the state of the share price now, a $5mil raise when we were at 1.8c/2c earlier in the year at a 20% discount would have been a lot higher than the current 1c. Plus, We would have had constant drilling and assay releases to keep the market happy and you never know, another potential discovery in the making. Instead we are stuck at 1c heading into Christmas and very close to breaking under 1c, with only the ‘boring’ studies ongoing.
Personally I am disappointed as there should have been a lot more happening Imo.
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