The Prospectus has all the information. What N27 couldn't control, was the markets sentiment and speculative appetite for Cobalt stocks last year. They did a huge MAIDEN drill program on an old resource in the hope of enlarging that resource (as stated in their Prospectus).
The smart money left before the final drilling results and resource information came out.
They spent a ton of money and the resource didn't get any bigger! The share price reflects this.
Todays clarification statement is funny as yesterdays fall may have more to do with the shallowness of the holes they're drilling and not the perceived misinterpretation of a "contaminated" XRF. Worse is they announce the drip feeding of results all the way to December.
0.20c and 0.25c options are now under water as well as the last SPP @ 0.35c. This will make raising money this year a very tough sell, without some cracker news to support it.
N27 Price at posting:
19.0¢ Sentiment: None Disclosure: Not Held
