Originally posted by avagadro
Market has basically already written off Kanuka now.
We know there is Spodumene at Kito west so I expect that is going to be the only hope for lifting the SP off the 2.2 - 2.4c range we are stuck at.
I will guarantee that if Kanuka comes back a dud that this will fall at least another 20% (I am thinking more like 30-40%)
JB and co. have bled this company dry with these delays, salaries and cost blowouts where even if we get a good result i cant see the SP performing well apart from maybe a small pump as people know a CR is coming... although good results will set this up for a rerate after the CR is completed.
@mr_delta do you really believe that the MD ignoring the company paying the majority of his salary to work on other endeavors is a good thing?
13 weeks from when results were due, 8 months from when the drill program was announced. $3.5 mil to under $1 mil in funds, numerous unfulfilled statements on twitter, SP dropping from 8.5c to 2.3c in that time, insiders selling, MD with a poor track record despite recent pumps on current companies.