RE:RE:Development vs Exploration60% of the shares are controlled by Directors, Institutions and Large Private Investors. Hardly any of them have the desire (thank God), to sell the company for $1.20 per share.
This would represent an insane valuation, relative to the in situ resource and fully diluted share count.
The money to fund the PFS is there (or largely so), and when complete the valuation of the in situ resource will only go demonstrably higher.
For reference, you can look at the value that our CEO created in past endeavors. If you think he is trying to give away the company, or that other large shareholders have been sticking it out (and adding dollars), in order to sell it at a sub-standard price, then prepare to be surprised.
You don't sell this asset at the bottom of the worst bear market, in memory. Much of the analysis of the junior resource space is made through the lens of that bear market. When the cycle turns -- and it will (just like day follows night) -- the metrics that are used to for valuation purposes will be entirely different.
Like I said in a previous post... right now, sellers are giving away $10 bills for less than a dollar. The people running the company are not suckers -- they're not looking to give away that $10 bill for $1.20.
You guys really have to get out of this bear market mindset and start considering the next cycle. The stock is going GEOMETRICALLY HIGHER. It has more chance to see a phase where it climbs a dollar a day, then it has a chance to be sold for $1.
BTW, if Stillwater thought that they could by this company for $1.20 per share, they'd do it tomorrow IMO. It would guarantee that they would be the key PGM producer in stable jurisdictions, on a MULTI-GENERATONAL basis. Unfortunately for them, it's not for sale at that price.