RE:RE:RE:RE:RE:FL filed PFS recently yet trades at a premium to CRE?Again, you are comparing 1/3 of FL's resources too 100% of CRE's. If FL got permits they will be much higher but why CRE is undervalued?? Let's recap:
- Prior to permits being granted they have been saying financing is following 'instantaneously' as Haver put it in October 2022.
- Permits were granted and suddenly a change of tunes!! Start talking about mine life. No other news.
- December 2022 quietly updated presentation to show Q1 2023 for financing.. with NO explanation provided why the delay, why for years they talked on e we get permits we will start construction, etc.
- Market did punish the stock price but towards Q1 2023 started to recover a s hit $3 or over $600M market cap.
- Q1 passed and again no explanation, no reasons just more vaguely worded timeline and obviously Market punished the stock.
- CRE Management never provided any reasons why the delays - Im sure they must have had offers in order to claim pre- permits deal was almost certain. Further, pushing timelines and finally no timelines at all makes ot even more vague as no reasons are provided.
- Based on the feedback from AGM, looks like trees clearing will start regardless of whether they have secured deals or not. That will crater the stock even further.
The value the permits delivered was completely destroyed by Management's actions and decisions and crying out how undervalued CRE is and blaming the 'irrational' market is not a solution. New CEO or board or both can change that.