They have not been able to ramp up production quickly enough. I’d say the forecasts in the prospectus were perhaps too bullish.
Then there was a whole bunch of 13c seed which came out of escrow.
I was in this at ipo but no longer hold thankfully. I think that management underestimated the task at hand. This mine has failed before. The value I see in this is the size of the resource including minyango, but cook is a notoriously difficult place to mine.
Given the the amount of money the major shareholder has sunk into this,, the logical end is for then to buy it out. Whether that’s at 20c or 2c remains to be seen.
