What's next?
There has been 70 MILLION shares issued in the last 4 years.
Once again FL is out of cash, and needs a LOT of it.
Insiders cannot fund this, they got the company into this mess by not raising the needed capital, but they have not chosen to buy any shares, even at these depressed levels. No moral support even, just silence.
How exactly is FL supposed to raise the $300 MILLION they need for the reduced phase 1?
The better the asset actually is, the worse management looks.
Perhaps a realistic plan would be an idea, some thing that shareholders could believe.
At least that would be an excuse to issue more share options.
3 months ago I thought this company could be acquired for $1.75 per share. I think today it would be
far less, perhaps $1.30 The real question is the quality of the asset? is it as good as we all think?
So far, the market says no. That is very concerning. And no drilling results coming to bolster the resource.