Cris Moreno needs some wins on the IR board here too. Even though investor relations has been primarily shunted over to Francis Wedin as an added Exec Chairman responsibility, I am sure the new CEO is conscious of the SP trend since his appointment to the role, and keen to see positive market response to the next critical steps to production. We can say he has better things to do executing on the development & financing, and that SP isn’t a focus, etc etc, but realistically all CEOs do keep a keen eye on the temperature of investors and how the market is perceiving them in their role. The share price is the main tangible measure for this. With the most recent issues and Stellantis investing here each occurring north of $5, and a board that is still quite resolute about minimising dilution via further share issues and instead seeking equity at the project level, plus all the newsflow to come shortly, I don’t think it will be long before Moreno gets a win here. A sub holder topping up on-market on positive lab production, for example, could be all the trigger this needs.
VUL Price at posting:
$2.99 Sentiment: Buy Disclosure: Held
