RE:RE:RE:RE:RE:RE:RE:RE:RE:Amazing what a little tweeting does !🤞Bigops, I’m not going to answer your question the way you would probably like.
The point is not to get angry among any here. Every time there is shareholders complaining about management on this board, there is others that feel the complain unjustified to a point that it is almost them that receive the complain.
There are parts of this management that I like, and I have pointed it out many times. But there are some portions that I don’t so has others on this board, and I believe it is ok to point it out. You have the right to disagree, to each his own in that regard.
I’ll answer your question of institutions like this:
In some way you are not wrong, but I don’t believe you are 100 % right either and I’ll explain.
I’m going to refer to the last year AGM (2022). Patrick explained the institution portion. He was explaining that when we are in the 250m to 500m market cap range, like now, it is very difficult to have a sit down with institution. In the small cap world, they must almost beg to have a sit down. Once we reach 500m, more interesting door opens, portfolio managers of certain institutions will be a lot more interested in meeting them. At 800m many institutions have the obligation to take a look at the project and even more doors will open. At 1B + they will have access to most if not all large funds and institutions and it will be a totally different game.
That been said he also said (in 2022) even if we are a small cap company, that there was a lot of interest from institutions but most if not, all, were waiting for the permit to arrive to start investing. Until that happened very few wanted to get in. They didn’t mind paying twice the price if when they got in it was with the guaranty that the permits were there.
We tried to know which institutions he was referring too, but obviously he could not say. All this to say that even if we were in a pre-production stage, with no offtake, no financing, institutions were apparently lining up…
I didn’t see a lot of interest from institutions buying after the permit, but at this year AGM, according to management, there was apparently some institutional buying hence the increase in the SP. Because they were not able to concretise a deal on time, the same institution(S) left hence the decrease in the SP. They repeated that the institutions interest remains very strong, but it is the financing this time they are waiting for.
I don’t know who those institutions are, I can’t name them to you. we probably won’t know until it happens. I don’t think management would be entitled to say it. My point, based on what management is saying, we should see some sort of institution buying as we are a pre-production miner.
Beside the fact I would have like them to keep the or those institutions in play after the permit, my point is also that we have been hearing this for a long time, I personally don’t want only words but results.
If they made it happen before there is no reason they won’t again, but it must happen sooner then later and it must happen before we are in production…
With only 30 % of the stock technically available on the market, there is no reason they are not able to increase the SP if they are doing things right. By right I don’t mean waiting until we are in production…
There is no reason we are not able to trade at a fare value (average in the market) if not higher…
The financing is what some of those institutions are apparently waiting for, once it happens, I’m expecting better result then what we saw after the permit…
They have everything to be successful, but they need to start saying it out loud a lot more.