RE:RE:Rollback 1:12The reverse split was inevitable with their stock price being on the brink of $0.00. The only reassuring part of the news release is that they at least state to have enough cash on hand to sit on their land claims for two more years. Shareholders now solely need cobalt/lithium prices to rise significantly within this period for CPO to progress from the brink of bankrupcy and to do any further exploration or acquisition activity. Cobalt may very well pick up steam again but two years is a tight window for the whole EV boom, etc.. to really hit the headlines again.
This news release pretty much confirms what I suspected when I emailed the company last week (and received no reply), that they have done nothing at all on their claims during the field season as cobalt prices tumbled off their highs of last year. They are just trying to stay alive now until the macro market picks up again and they can attract more investor money.. Here's hoping for the best in 2019, but more likely in 2020.