No time to panicI am hoping FL management is getting a strategy ready, making some changes, and preparing for better times. Putting out a fluff press release, a shareholder update with no new information is usually seen by the market as a sign of weakness. The recent positive statement by Stifel was great but did not move the needle at all, neither will a soft management statement.
Until they get some concrete bridge/road progress, that is verifiable and predictable, waiting is the best course.That they have put themselves in this position is an indictment of management.
I am hopeful that when they have news to release they will add a commitment to regular quarterly calls and a presentation that includes a better regulatory pathway to revenues. They are going to need capital markets again, and the combination of poor cash management, poor marketing of the last issue and zero retail engagement will require some changes in the way they do business.
The lithium price is beyoind their control, and the stock performance is partly due to that, but we have seen the PFS that many on this board were optimistic on flopped. My guess is that the combination of 8 months late, a plan that needs huge new capital from a company that has failed to rase enough capital properly made many investors walk away. Getting them back takes time and efffort, plus a tailwind that they do not have yet. I hope they get some breaks soon, and reset their strategy at the same time. They need both to avoid getting taken out at a steep discount.