RE:RE:RE:RE:RE:RE:RE:RE:Catalysts to Development & Share PriceThere are a few other pointts to consider here. The terrifyingly bad IR and the decision to NOT raise capital at higher stock prices (both deliberate board decisions) have increased the dilution, reduced the available capital to pursue the development, and therefor increased the timeline to development.
PMET has done it differently, and reaped the rewards of better management decisions. They diluted less, raised more capital allowing a bigger drill program. By not issuiing warrants with their stock issue, they kept the market price tighter, and their stock is 50% higher than the last issue price, taking into account the tax incentives.
FL is constantly met by a wall of selling as buyers of the issue sell the shares when they can and keep the free warrants. There was no support from the dealers who did the transaction, and we all are paying a price for that.
Unfortunately in this business success begets success. Now the first James Bay operation has received Federal approval. FL has been at it for 10 years with no approvals yet. And FL continues with the same strategy, terrible communication, lots of warrants for the board and management, no quarterly calls, and the PFS has been delayed from last summer, to fall, to before year end, to sometime in the next few months. I shudder to think how many options they will give themselves if they actually do something right.