Well as ridiculous as much as the price has fallen given that it was free carried and interest was to drop to 15% after drill, (yet a 50% freefall? lmao! And this was only one project of many...) that's what I expected from the market for a no show.
However, it's interesting and typical of questionable management to keep quiet and not release any statement regarding market reaction to results. I'd like to see how they try to talk themselves out of this one, it will be laughable regardless. Future funding imo will be extremely hard to raise from current SH (unless they really are that naive and gullible?) as many have been burnt enough over this and foremost results aren't promising of future results. No doubt future investors will be suckered in for CR's I expect, such is the life of legal 'corporate robbery'.
Well I hope most if not all have learnt their lesson regarding CR's so close to a drill. Sure it was worth a punt, but hardly worthy of an investment. Risk/reward ratio puts that logic into perspective.
Anyway, will be looking for a bottom soon to average down and trade my way back up to recover current trade loss, glad I didn't put too much in, very sorry to those who did, bottom drawers for you but it'll recover over time once all is forgotten and hype builds it again.
BUY Price at posting:
4.7¢ Sentiment: None Disclosure: Held
