Ugly stretch
FL has given back most of huge gains. No real bad news. Just more realization that path to production remains LONG and that FL does not have visible access to capital to make that happen, without major JV partner or sale to provate equity. Ceryainly equity raises at low low share prices won't raise enough without massively diluting current holders. So I guess there is time enough that proving more resource (plus maybe some infrastructure development by the province) will increase confidence enough to boost share price to a level that equity raises could solve the capital problem. But that could be quite a while. Good thing is that they do not need more capital to finish the current drilling and better prove up the resource, which appears to be world class. But they need a billion dollars for the mine to concentrate to chemical grade lithium pathway. And the market cap is about 250 million. Admittedly they do not need that billion right now. Success of a pre-production natural resource company depends on quality and quantity of the resource and good access to capital. First box is checked as well as I can tell and is going to be further proven by current drilling. Second box is more difficult with raising interest rates, general tightening of credit, and long lead time without revenues. During a recession sometimes the only companies that can get a loan are those that don't need one.