Denial is not a river in EgyptMost investors are still in shock. I sold my remaining shares this past week and wouldn't touch this stock again with a ten foot pole.
Technical damage done to stock price will be difficult to fix.
Tax loss selling later this year will keep price down.
Company has a history of over promising and under delivering.
Departure of two key individuals says volumes.
Difficult to simply say solution is new geologist. Certainly AEM technical expertise was involved in drilling programs yet IMO the drill results the last 2 years failed to hit anything of significance.
Working capital at the end of March 2023 was $6.7M and the monthly burn rate appears to be around 900k per month. I highly doubt AEM warrants will be exercised. Will simply expire. You do the math as to what working capital balance will be by end of year.
We are almost 2/3 into this year's AEM funding with next year 2024 being the final year of funding from AEM with $5M being allocated for expenditure next year. Then what?