Re: Low share price
I think the main reason that the price has not run is that people recognize that the company does not have a lot of cash on hand and will require a lot more to get the mine built. As noted, they already have a lot of shares out. I think that people are waiting to see just how much more dilution is to come. Management is obviously aware of the problems of excessive dilution and have been limiting share offerings to gaining enough capital to complete specific projects/goals. They are also heavily invested with shares and options and have a vested interest in seeing the share price appreciate.
I believe that we are close to a critical juncture in terms of accessing further funding and do not believe that further dilution is necessary. Once the two pilot projects are completed and the product tested (assuming that the grades and concentrates are as good as we expect), they should have no problems finding partners for an offtake agreement from Molo.
The CAPEX for the mine is very low and can probably be readily funded by a single partner.
In short, I think that the shareprice will remain muted to any positive news until the funding issue is clarified.
Just my 2c,
Mymoolah1