Looking Ugly
Great team and people but the stock is looking really ugly here. The biggest problem is they failed to raise the $27 million and only closed on around $7 - ouch! That says a lot about what the market thinks. And that $7 million short term loan was incredibly expensive and stupid. Ok, maybe I'll take back a bit on what I said about management?
Finally, just checked their latest financals and the burn is insane. Almost $900,000 per month for general, admin and management salaries. WTF??? Add in the high cost of keeping the Botswana asstst in good standing let alone doing any work, and the balance sheet is really ugly. The market sees this so this is going lower.
But that failed financing in a hot nickel market says a lot.