RE:RE:RE:Todays Press ReleaseThere is never a good time to do a stock option announcement.That is especially true when they have underperformed their peers so badly, missed the PFS target and had to raise equity so inefficiently.
On the other hand, given the intense heat in the Li mining space, these options are necessary to retain the mid level talent they have. I hope that is where most of them went, because I do not see the board nor upper management deserving of increased compensation.
This company needs a reset in the new year, a better business plan, properly communicated, clarity on a new drilling program and a clear path forward. The drill results are very good, but all they did is find what was there. The things management can control have not gone so well.
The FL market cap is far below competitors like PMET. They let their cash levels go too low that forced an issue that was not well received. Again look at PMET, lower grade, no real size yet to the ore body, infrastructure issues, but a market cap far above FL. The stock is 20% ABOVE the last issue price ( and that is deducting the tax benefits of the flow through). FL is 10% below, and they had to give warrants as well.
FL does not seem to understand this is a competitive arena, for government help, for permits and for investment capital. So far FL is not winning any puck battles at all.
Best of luck