RE:Snap Romanian elections soon?While the political situation obviously affects the share price you have to look more at ESM's situation. This isnt bashing just straight up the picture they have painted with news releases.
In 2019 they have made 14 news releases.
1. 6 of those news releases were about private placments ie dilution.
2. 2 of those were in regards to the PEA which many found to be underwhelming.
3. They have stated they need another $8 million or so to complete the remained of preliminary work to be able to get the construction permit
4. Since admiting they need another $8 mill they have raised $3.1 through dilution $6 million this year alone was raised through private placements though either way they still need more money to get to their $8 million estimate and then they may (not guranteed) get the construction permit.
5. They have only provided one non mandatory update to share holders this year.
So the picture they are painting is that this company is hurting for cash, they are happy to dilute to raise funds and they still need a lot of money to get where they need to go. Their financials also speak of an absured burn rate for cash and their lack of engament shows that share holders are not really a concer for them.
That isnt even brining up the dumping of shares from their subsidiaries everythime there is positive prive movment. Like heck after the Authorization to begin mining activites came out we hovered above $1 before they dumped us hard to a new all time low.
So at this point I do not this the political situation in Romania is a big deal to be honest. Both parties have shown support for mining, I think the stock price issue come from other sources.