RE:Is the blood shed over? Vick & Crow ... I'm glad I dumped 80% during mid-day yesterday. Like Crow I came out with a gain. I gave JR more benefit of the doubt than most. That level of trust is broken now. To a point it is he job as CEO to put a best face on all situations. However two things he cannot overcome with me. The first is saying all along a 2-3 year payback & then come out with 5.7 years on the DFS. The second is giving the reason for putting off the PFS, then delaying the DFS as we need to drill out these high grade zones to turn the project from good economically to great. What he knew behind the curtain & reality was, the economics of this project currently don't work & we need this higher grade just to get it to be a mediocre & marginal project. So that's where we are at. I'm not sure what I do with the balance of my shares. I may hold to see if there is a bounce. I'll probably wait to read Gwen Preston's report on the project in her next newsletter, as well as look to see if others chime in. Three telling things. Two before - no run up before the report & Sayona bailing. One after - No Rick Rule or other notable jumping in and saying hold on, this is being misread by the masses.
No it is what it is. They'll drill more in hopes of better grade. If physical AU price rockets then chances improve. But those 5-10x thoughts in 12-18 months .... see ya!
There are plenty of other great plays out there. I didn't lose anything. Most other plays have not run, so repositioning is possible. I'm about there. Good luck. This one fizzled....on to others.