Hang In There Seems to be a lot of infighting over at the CEO forum. I guess that's what happens when the share price is not doing well and management keeps shareholders in the dark about the use of funds. It's human nature that if one is invested in something one does not welcome criticism . In the latest raising of funds you would think Lion could have given a little more detail regarding its use. Nope....not Lion. Now I hope you know who I mean by "Lion".
I happen to think Lion has made some pretty good decisions lately but there has always been a lack of information for shareholders. I'll give the new shareholders a what if:
What if Lion tomorrow signed a term sheet/financing to expand the mill to - let's throw a number out there - 1000tpd. But then the weeks / months / years go by and not another word about it was ever mentioned again. Impossible you say. No management that cares about its shareholders would sign an agreement ofr the financing of a mill and then not go through with it and never mention it again. Never.
Well Lion did that. I've been in this since 2015 and I've learned a lot. One of them is don't expect "Lion" to keep you informed. The investor relations people are only told so much too. I don't know how many times I phoned in because something came out of the blue to be informed they had no idea either.
Lion will be rerated when they prove up production along with exploration results. There's certainly lots of blue sky out there. The rerating is probably going to take longer than I thought. There is money to be made but the bigger return was lost years ago. Imagine if we had started producing back in 2020. Don't get me started.