Have to say that I have heard it all before, both in forums, in...

Have to say that I have heard it all before, both in forums, in seminars and from the directors.
Most people who buy into explorers think the prime concern of the directors is to take care of shareholders. This is laughable. Their concern is to take care of themselves. Sure they own stock but they all work for something much more valuable than their stock holdings. Their fees and the the knowledge of when good/bad is is coming. This gives them the opportunity to alert their proxies when to buy and sell while living the high life on their fees.
Sure, if they are the one in 500 explorers who actually find a feasible mine then everyone is a winner. However, in the explorer game, directors are always the winner.
Reed is a classic example of this. They pumped Vanadium getting the share price up to 3 figures only to announce a $650m costing for the mine. Like a piddling little minnow was going to be able to pull that off. Then it was iron ore, then lithium, now gold. They neatly ticked all the boxes with good announcements. What next? Nothing on phosphates yet or maybe even rare earths although that is yesterdays news. Perhaps platinium?
Long suffering holders are waiting for the next update...