I have sympathy for this view mixie, but I do not think it is the whole picture.
Again, they set lofty expectations and then fall short. So much to love about the projects, so that makes not delivering on commitments all the more disappointing. Dave needs to learn to under promise and over deliver. It is critical.
And if you make the market wait, expectations increase and news almost always disappoints.
That said, what happened today seemed inevitable to me.
The pump crew (or other traders) worked hard to sell this down from the 30c range. They made plenty of money. Then beat the projects mercilessly to get the share price sub-10c. My read is that they then reloaded their stock, over and over.
Today, they dumped it into news. There were tells that it was coming.
Note the negative sentiment from certain posters returning to push it back down. Some of the same faces as last time. Sadly, I suspect they reloaded late in the day or will do so tomorrow.This is become a routine and will leave more and more people burnt.
Frustrating for those holding long.
Dave is a smart guy and his plan for Storm has merit, but IMO its open to misinterpretation and to misappropriation.
Plans can be too clever in a market heavy with retail investors, many of whom do not know copper projects too well.
A small operation at surface with minimum CAPEX that can generate cash for a bigger operation can be mischaracterised.In a market where bigger MREs are seen as better, and your OPEX must be low.
You need a clear story that is obvious from the front page. It needs to explain why a different formula is AW1s edge.
They must have known how big this MRE was going to be from the amount of drilling they have done to date before anyone put together the JORC. And as it was critical to the story Dave wanted to tell, it really needed to be supported by a PFS.
It needed to show a rudely economic project. A boot strap from something bigger. The market can deal rationally with cheap and targeted operation to exploit highly profitable copper at surface. Profit to be used to drill out the motherload and turn Storm into a tier 1 resource.
It's a good story if you can communicate it and you can deflect those who claim the resource is small and poor quality.
Given they are not meeting deadlines, I wonder if they have too many projects. Markets do not typically value beyond the primary project in small caps in my view. I do not think there is any value beyond Storm in our MC and even then, it does not reflect the value on offer.
If Storm is the main game, then the others are a distraction.
Sell them, farm out or park them.
Commit to Storm milestones that excite the market and then hit deadlines.
I am sure the SP will recover in a few days.
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