because they are a small market cap spec stock that is too early stage for instos, and liquidity is generally too low for larger blocks to consider. At the moment a stock like this will run on the smell of an oily rag. Retail love an exciting punt. Instos not so much, and are restricted. Private equity mandates generally restrict to purchasing proven resources, or even DFS stage projects, which is obviously far beyond this stage - ie, more like LRS level type of opportunity.
Why would an exploration company do this?, page-3
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