I don't think you guys get itNot sure why you don't get it. Maybe you weren't around. Maybe you haven't been following. Maybe you've never spoken with ATAC management.
In any case, ATAC's fall isn't about sentiment and it's not because the management was incompetent/corrupt/fly by night corporate types (take your pick.)
No, now listen carefully and you'll hopefully get it this time ; ) ...
ATAC discovered a Carlin-type anomaly that was verified by Barrick and others. The real deal. It happens to be in a remote area. They have tried everything to get a permit to build a tote road so that the area can be viable to mine. After spending hundreds of millions (that is not an exaggeration) to prove it up they could no longer keep such a large property 'on ice' waiting for the govt to give them the green light. THere is no rhyme or reason to it; no clear date to look forward to; just the hope that the govt of the time will support mining exploration bc that's what it has historically done in the Yukon. But with a greater tilt toward conservation and indigenous rights (a quagmire you do not want your business to have to navigate through) well, it hasn't happened: no tote road go ahead and no map as to how to get there. Almost two years ago, the decision came down from the gov and it was a resounding "NO." Simple as that. ATAC thought about contesting it legally and whatnot. Anyway, the whole thing is absolute anathema to investors.
In short, it's all about the gov decision to disallow a tote road and no provisions for how ATAC can even change that ruling in the future. You want to invest in that? People didn't.
BUT, maybe HECLA b/c of its size and possible political connections?? can change that and get the tote road okay from the government--at some point--and afford to hold the leases while they wait. Maybe even afford to spend the millions required to prove it up further in that remote region. If they can't get the tote road then what they're getting ATAC for now might not be such a steal.