If you are long term holder, you would want the company to take pre-cautionary steps now to secure the company.
Adrian and CVN management have shown they make strategic decisions for the long term. Take for examples:
- Sale of Thai assets before it collapsed,
- Raised after the Dorado success to secure our funding through the Covid crisis, and now
- Raised after Pavo success to secure our funding for development of Dorado and further exploration of Apus and Pavo.
If CVN did not raise, and took the risk with Apus (just like FAR did with Samo), then its SP could crash under 10 cents; if Apus turn out to be a duster.
Everyone should note, we are at a critical juncture, where funding for our development should take precedent over unnecessary risks where a duster in an exploration well could wipe out all or most of our investment capital.
Do you guys remember the days when our SP was hovering between 7 to 8 cents? Well, those were the days when our company took extraordinary risks at drilling prospective exploration wells.
We don't need to take those risks anymore. We now have Dorado, Pavo and Roc as backups.
These discoveries form the foundation of our company. Now, we just need to lay down the bricks - ie. money to build the business structure around our foundational discoveries.
No need to take all-in risks like what FAR did.
Yes, the impact of CR is unpleasant - especially for the short term, but we should all focus on the medium to long term.
(20min delay)