I like Alacran. It was a good discovery and has/had the potential to be a company-maker. In my opinion however, the company recklessly gambled its future on Oposura.
Despite whatever may happen next, the ‘company’ will continue to exist in some form. It will undoubtedly monetise Alacran. There will be high (even higher) paying jobs for Tony & The Boys in the repurposed outfit
But if Oposura cannot demonstrate in the next 3-9m that its can be a profitable and low-risk mine (which it has failed to do to date) the dilution required to get wheels turning will be horrendous and existing shareholders will be washed out
This is my opinion on Alacran, the importance of this tenement to the future of the company, and its relationship to the new project at Oposura
AZS Price at posting:
19.0¢ Sentiment: None Disclosure: Not Held
