RE:New properties acquired for what reason?
So it is the end of Sept and exploration season for their new properties is now over, and it was a year ago that they acquired them.
We were told that both would be explored on the ground this summer in Pettit's last podcast interview early this year. They ended up doing a soil sampling program for the graphite, but nothing for the Red Lake one. We have gotten no updates on the reason that the Red Lake property was not explored (likely lack of funds, but if that's the case then why did they say they were going to explore it or even make a deal without funding?).
https://www.youtube.com/watch?v=Dk8ViathAQI
The market see broken promises, plus in addition the most recent small fund raise at the bare minimum amount at 3.5 cents, and where the raised funds were not used for exploration this year.
The company's position would be better off had they not done any new deals at all and just sat on Justin until it was sold off, and made future plans for Forrest Kerr. Those are properties that are both highly promising and have value, and they could have added technical expertise to their team by bringing in new talent to examine all the data from Forrest Kerr, but the company has managed to de-leverage both properties instead of the other way around, plus the two new properties look like busts to the market.