This company.... This company has the following pattern, starting with Formation Capital some 20 some years ago.
Change name: Formation Metals (from Formation Capital)
Pay off old management
Add more shares
Get more efficient to make business case reasonable again (new drill holes, new processeses, new factories,etc)
Work through issues
Finalize new studies
Get Funding
Plan opening date
<Market conditions go south> (2008 crash)
Change name: Ecobalt
Pay off old management
Add more shares
Get more efficient to make business case reasonable again (new drill holes, new processeses, new factories,etc)
Work through issues
Finalize new studies
Get Funding
Plan opening date
<Market conditions go south> (Cobalt crash)
Change name: Jervois Mining
Pay off old management
Add more shares
Get more efficient to make business case reasonable again (new drill holes, new processeses, new factories,etc)
Work through issues
Finalize new studies
Get Funding
Plan opening date
<Market conditions go south> (Cobalt price drop and 2022/2023 Recession)
Monday is September 26th.... tic toc tic toc