New Bendigo

So many investors in MHC bought in because of the promise of New Bendigo and the strategic assessment by the Geological Survey Dept of NSW, that it had characteristics of the prolific Bendigo region in Victoria. Late in 2019, MHC promoted itself as an "“Early Mover in Emerging High-Grade Gold District" when it bought out Awati Resources to pick up the Tibooburra Gold Project and began exploring.
Now, over 3 years on, exploration seems to have ground to a halt, at least no drilling results are being announced, and even more pertinently, no sign of a JORC resource.
Of course, the company has instead diverted its attention to Lithium prospects in Nova Scotia. Well and good but even in the latest quarterly, there was only minimal activity referred to for New Bendigo.
It looks as though, MHC has put New Bendigo on the back burner and diverted attention to Nova Scotia. One cannot help being suspicious that they have not found any results from earlier drilling activity at New Bendigo that have economic potential, and they are not prepared to fess up and lose market support in so doing.
There are many less risky lithium prospects on the market these days than MHC and if the gold prospects have dried up then why bother holding? Probably because most investors will incur substantial capital loss in selling. Still, less than 2 months to go before tax losses apply.