Just like sporting teams, junior miners are never as good or bad as the pundits would have you believe. Junior mining IPOs of the last six months are either being pulled atm or trading back towards cash backing. You have to roll with the punches. 2c highly unlikely imo unless the whole market craters and then all juniors are cactus anyway. The listing mc was commensurate with the greenfield nature of the projects, maybe, dare i say it, slightly undervalued. In a strong IPO market, this opens, mid-high 20s. In a terrible market, it trades back to cash. Simple. The drilling will do the talking (or not) and given the low SOI and cash position and EV, I'd imagine they'd be open to opportunistic acquisitions and have the networks to see deal flow.
What's less excusable in my view is RM taking 500,000 shares, $25k + $6k/month for investor engagement services and providing basically zero support on market. Don't take the perks if you're not prepared to dig in.
PSL supporting on market is good to see, whereas Pershing and Morrison the main sellers, could be any number of brokers.
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