To be fair and even handed though, cobalt was worth 4xcurrent prices and tin was hovering around 29-30k AUd a ton. there was also alot of fast money in the marker. We had less CN hanging in the wind, a few less SOI and we didn't have completely toxic sentiment from the wider market.
I agree she has some legs to get back to mid 2's and maybe low 3's but beyond that management will need to demonstrate they can run a very tight ship. I feel that 60-70million MC is appropriate once taronga breaks ground, but then that all depends on alot of macro factors. they really have missed all the peak points and we didn't even get the traditional pump after the CR that would let the sophs escape.
Its been a long torturious ride and as i said before, this is no longer investing, its gambling.... which isn't to say it won't make everyone a ton of money but there are a number of elements that say to me "boom or bust" and there will be no middle ground.
They will be unable to do another CR after this, and another sniff of a LIND deal will have this at .003c without question. Flipside, continuous production with cash flow and no more hiccups, it will climb back from the dead.
make of it what you will.
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