RE:RE:RE:RE:So what's going on ?Why everyone is surprised???
Monkey predicted what will happen by the end of the month that stock will tank so you had 2 weeks to make up your mind. Not bad for tea leafs and crystal balls, eh Bigops?)
There are money to be made, the question is at what price lol.
As I stated in my prediction on Sep 15, I expected the stock to run to $2.5 so the outstanding warrants can be exercised. It did run up to $2 and change but falter, not sure why, maybe the remaining warrants holders are small fish and can be sacrificed?? Was able to offload my remaining 50K shares at $1.9x the day after as I saw the volume starting to dry up so completely bailed.
Anyway, said in my post that for me the best time to buy back will be December (tax loss selling time), so planning to buy back then.
Stated a year ago, stating it now again- there will be no deal until whatever they are waiting for happen. Still insist on my tea leafs prediction that it's the life of the mine expansion they are waiting on as Management wants to increase the resources for best deal maybe? Management said that this was an issue for some right after permit, but since then Management changed tune. There is no reason not to make a deal in the past year - same deposit, similar economics, they just play around with the price of SC6 so whoever wanted could have strike a deal.
This will tank even further on no news - bonds rates are raising, economy is going in the wrong so concerns about green transition will weight in, and put in the mix US election and that Trump will most likely win and good luck with this reaching even $3 as the green transition will b killed by him!
Hopefully they make the deal in Q1, 2024, that's what I'm anticipating since we should get drilling updated by then.
My Reasons why I bailed out completely:
- shareholder letter - few milestones were noted that they did not follow thru - never announced the magical 65% design completion, prerequisite to purchase long lead items, prerequisite to meet stated end of construction in 2025.
- Being vague about timeframes
- adding additional requirements (mining lease)
- Only noted last month that they have tendered (not purchased) some long lead equipment - that basically means they asked for price.
- No site prep started September - you have $30M - sure you can put confidence in the project by spending few of them for that. It will send a strong message, but why bother right?
- Updated price targets (downgrades) from the analysts covering the stock will start coming in Q4 IMO
Good luck to all with this dog, it will shine, hopefully not from $1 to jump to $2 but it goes to $4.
I'll post only when I buy back or to congratulate you all if Management surprise me and actually make a deal that doesn’t dilute the hell of the stock which will be less than 70M shares for me (25% of the float) and rest is the wonderful negotiation of Haber, JSL, Brune and all