General inquiry from investor on the sidelinesI've been sporadically watching LIO over the last 4 years or so and was glad to see they had reached the production phase. Digging into them a bit further with the intent to determine whether or not to start a position I saw that their flagship project has less than 1mm ounces of gold in the M&I categories. I read up on some of their prior press releases from 2022 and discovered that the resource from the PEA has not changed in the interim (sometimes adjustments occur via a revised PEA).
I understand that there is likely much more than 1mm ounces of gold to be discovered, however, the minute size of the resource is the primary roadblock preventing me from getting excited about LIO at the current juncture. Is there a reason why management decided to spend the time and money to deliver to market a PEA which was so small? Many junior resource investors such as myself won't even get involved in a project that is under 3 mm ounces.
Curious what the current investors think.....