Priced as a shell

Any clear reason why this is priced as a shell still ?

Is the market giving it 0 chance of getting anything tangible out of the mount cobalt which has such high historic grades

IS the management not able to inspire much confidence ?

Is the timeline for delivery of any actual cobalt is still yonks away so why bother now ?

what happened to the sentiment around over subscribed placement and option issue to retails ?

Is probably an attempt to understand the spec market more than chk itself. EUC/WMN has got 2/3rd of sweet F all yet it is priced at $60 mil and counting. beggars belief.