California Has got to be the reason this has been sitting where it is. Since first jumping on board, I've bought at $0.08, $0.11 and as low as $0.015. Though 2020 was a quiet year for the company overall, it's shocking to think that in the past 3+ years I've been here, sp is down over 50%. In that time there's been a drill permit secured, three bonanza holes drilled, a jv (now dissolved), Jemini brought on board (though only recently) and even the price of zinc is within striking distance of where it was early 2018 etc.
The only drawbacks I can think of is the resource moving solely into the inferred category, dilution (however in the grand scheme of things, is very modest) and of course the California factor. Management has pressed that California isn't "anti-mining" instead it is "responsible mining". It's also pressed pretty hard that mines can be approved there and that the county can take the lead on permitting. All great things, but until that happens, this is just a project in Cali that has a lot of hoops to jump through. I wouldn't be here if I didn't think it was possible, I just thought there'd be more interest here as this advances and milestones are achieved. When compared to industry peers and where they sit cap wise, I'm wondering how many of them (from the slide in the investor presentation) are situated in Cali...? Just something to think about.
It would be amazing if in 2021 the company could achieve all the catalysts (though aggressive) laid out in their presentation. As some have said, all it takes is one player with deep pockets and exposure to believe in a project/company or even a re-rating to happen and this could pop overnight. When I first got here, I said it was a 3-5 year plan before a re-evaluation. Looks like the next 1-2 could be that turning point not just for me, but for everyone else that believes in this project and company.
cheers, Vin