First of all I want to say I am not a pumper or short term trader.
I own White Rock Mineral shares for almost two years.
I think everyone agrees that a lot of shareholder value has been lost under this management.
Without going into speculation about potential future success, without going into the technical skills of the mining team,
I am convinced that the SP can recover to a substantial extent simply as a result of chart technicals. (See chart).
A rebound to A$0.30 is possible, as happend numerous times before (see chart again).
A lot of value destruction has occurred as a result of the very negative sentiment (almost all resource stocks are -50% this year).
When in a future scenario (Q4 22 or Q1 23) the gold price explodes and sentiment turns bulish, massive positive moves are a very real possibilty.
Should management (in an exceptional scenario) present a significant resource within the Woods point project (because that is always a possibility) then that will further contribute to upward pressure. In addition, Red Mountain can be sold for a big premium or enter a JV.
Anyway, A$0.10 for these assets is insane and the odds are very likely that SP won't stay at this extremely low point for long.
In my opinion, a upward technical correction is very likely because the stock is highly oversold.
