What am I missing?, page-4

I just dont see a catalyst that could rerate the stock:

• Market cap is too small for any fundie to play with.
• All financial metrics are too small to be an M&A target.
• Management has burned the bridge with their poor track record.
• Share register is mostly retail investors. Since the stock has been sliding down the hill for the past year or so, every positive announcement will be a liquidity event for people to get out and cut losses. I don't see this change.

IMO, I think the damages were done. The stock is possibly dead, unless some local investor wants to buy it out for the Bibra Lake infrastructure and sell it for cash. But again, the size is too small. Given interest rate and in turn investment lending rate is on the rise, unlike anyone would go near this stock.