RE:simple question /DrillI dont comment much, but while I understand your sentiment, you did a fundamental error in investing. Specifically, the indefinite holding.
I also got in relatively high, but my average purchase is now around 8-11 cents. Holding forever doesnt imply being blind forever. While I do/did have "on paper losses" because I am "holding" until this is done, I have more stocks then i did when I invested at my high value so my windfall will be much more significant when it comes times for the stock to be bought out or significant development occurs. Believe it or not, I have actually made a small profit since I have held this stock for so long after my initial losses
¯\_()_/¯ it involves setting market buys and sells with guard rails for a small portion of your holding easily done with commission free brokers, little bit harder with non commission free but still possible. The true definition of a "hold forever" is being willing to take an on paper loss for the long game... which a lot of "to the moon" sentiment in our culture forgos.
But even with that 10-1 split, the buy out ratio is still the same as if it were before the 10-1 split (unless the stock goes up or down prior to the buyout).
We are also talking buyouts in the price range of low for what we know. The RIng of Fire (NOT) had a reasonable buyout in the 1,10 range but was missing
- Indigenous agreements
- Mining permits
- Boots on the ground construction for their road (let alone a permit or agreement through each regional government)
- No want from the province nor federal government to fund
- No local buy in from cities to process their product
Whereas Fortune minerals has all 5 things and a very involved regional government (the Whati) so it does seem like a particularly low buyout we are discussing... if it were to be bought out. Not saying it wont be a low initial bid but I dont particularly believe it will remain there.
As for the drill question, there is a couple things I am quite confident they are waiting for, specifically the winding down of the Diavik Diamond mine. There will be some good, trained, and experienced talent coming out of there that will essentially be "scoop-able" ontop of the completion of their spur road so that they can start trucking in equipment. It is hard to find talent in NWT that is trained and experienced already as unemployment is particularly low in the mining industry there so waiting for that winddown is ideal (started roughly in April and finishes in 2025)
There is a lot more involvement then just sticking the drill in a spot and drilling. while I also understand the sentiment here, mines are complex. If you never had a chance to visit a mine, Dynamic Earth in Sudbury can give you a decent grasp on the work, requirements, and difficulties mining has that is more then just dropping a drill in a spot as that is probably the easiest thing they could do (but without all the extra things necessary, would make drilling useless).
With that, I say good luck to the longs, and I continue to watch from the shadows