News and No Volume!Key takeaways from this report- https://theinvestorscoliseum.com/wp-content/uploads/2022/06/X-TERRA_-Corporate-Presentation-June-2022.pdf
pg.28: Current working capital: $500k. Translates to, will run out of cash after drill programs this fall. OR will need to dilute stock price further @ current price of 2.5 cents. OR will need to incur debt to support the drill program. $500K for 6 drill programs- sure FMF we will believe that one lol.
pg.28: 6% management ownership. i.e. at current market cap management owns $150,000 of XTT. That´s a great sign of faith in the company. Hell I own 3% myself. Where is my board seat Mikey? Someone needs to fire you!
Pg. 32: 30 holes drilled for 4,783 metres. *Results pending from 16 holes (drilled in fall 2020). Still waiting for results from 2020???? Check in your directors desk.
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Bottom Line:
No one trusts Mike F. The proof is in the daily volume even following news. Until the board steps up and fires Mike F, investors will just sell off on any volume/price increase. The only hope for XTT is to replace the current CEO with a competent one.... a transparent one.
XTT will not be able to raise money for drill programs without further dilution. Pretty scary at 2.5 cents.
If any of the properties in the current, constraint property portfolio had hope of returning anything of substance, XTT would not be flip flopping between their properties. They would simply keep drilling. Read the report it keeps referencing 2020, that's 2 years ago FMF.
To the BOD, your first move on progress is to get rid of your CEO. Then you may see some volume come in.