The problem with these guys (and I'm a long term holder and believer in the directors) is that they are insanely slow to do anything. It's like there's no one working at the company.
They have loads of projects on the go but they are almost exclusively in the north of Australia which means any drilling takes place during the dry. Despite knowing this they never seem ready to drill as soon as it stops raining and only ever drill mid or towards the end of the dry season. This means that any follow up drilling takes roughly a year to happen. Look at Christmas creek for example, it stopped raining in the Kimberley 2 months ago and no sign of a drill rig yet. We will be lucky to see drilling there this season IMO.
The same applies to the Niobium, there is not a hope in hell they will drill this dry, which means it's June 2025 or beyond before we can hope for a "discovery" or hint of one which will be a catalyst for the SP. Meanwhile the cash slowly bleeds out.
I hate to be negative and would love to be surprised by them but this is the reality I think all holders know in their hearts.
The only hope we have of any positive news flow to drive SP up in 2024 is Christmas Creek and only IF they can put some holes in the ground before it starts raining.
Cheers,
DMac
TKM Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
