RE:How Can It Be? Sask, we don't have nearly enough parties caring about Western Copper & Gold to be "manipulated." Purely a bagholder's whine when they bought near the top. #bebetter
In all seriousness, we need the marginal buyer to bid up the price. Not necessarily copper futures, gold futures, simply buyers at market. And right now, the marginal buyer is hearing:
- Permitting will take 4 years
- Soon as the price improves a little, Paul is going to raise $ again, which of course is dilutive
- All majors are saying "no big purchases, one cycle of overpaying and now we're scared forever"
- Rio gets until at least November 28 to decide what's next
- Everyone says recession this year, which is bad for copper, irrespective of pie in the sky forecasts
- OMG, did you see that CAPEX?
And that's all they're hearing. Now three full weeks since they released the studies, and nothing. No follow up, no context. Meanwhile, we have these ridiculous roadshows where by now Paul should have realized it's the same audience, hearing the same story, for almost 2 years now!
And curious, which PR was stellar? The one where that "game changing, they've been begging me to drill this anomoly for years but whoops, not so great after all" drill hole was a fail? The market expects every drilling campaign now to be either Filo, or Patriot Battery Metals. Look at those 1-2 year charts to see what at true game changing drill hit can do.
Or the one where all these economic benefits are touted, but how does that affect me? Certain other projects having zero chance of permitting success release similar PRs. All for naught.
IMO, all that is what the marginal buyer is seeing & saying to himself.