SHOW ME... Any other nickel peer with similar grades and tonnage trading above $4 / sh
Good luck...!
200:1 using 0.02 cents = $4
Our inferred tonnage was stripped.
We have far less tonnage than other Canadian nickel peers.
The ( post hypo ) $4 share price would slide all the way back down .
Juniors reasoning ?
As of the date of this Circular, the Company had 508,461,951 Shares issued and outstanding. If the Board should determine to consolidate 200 issued and outstanding Shares into one post-Consolidation Share, the number of issued and outstanding Shares would be reduced to approximately 2,542,309 Shares, subject to rounding of Shares as described below.
Principal Benefits of a Share Consolidation. The Board believes that a Consolidation would enhance the liquidity and marketability of the Company’s Shares. Many brokers will not accept for deposit or trade shares that do not meet a specified minimum price per share, including many U.S. brokers that will not deal with shares with a price less than US$1.00 per share.
Is that really the case, no one would invest below $1 ?
Apparently not.
Electrum Hedge Fund - seems they have no issue investing in, $0.02 cent stocks.... lol
Lots going on stateside with Hedge Funds and SEC.
https://www.bnnbloomberg.ca/hedge-funds-trading-treasuries-set-to-be-tagged-dealers-by-sec-1.2031419
https://www.bnnbloomberg.ca/hedge-funds-are-challenging-sec-s-new-short-sale-disclosure-requirements-1.2010783
https://www.bnnbloomberg.ca/hedge-funds-pe-firms-accuse-sec-of-vast-power-grab-with-new-rules-1.1993220
https://www.bnnbloomberg.ca/hedge-funds-target-catastrophic-esg-lapses-for-huge-returns-1.2019486
What do i think ?
Since the junior failed to pull pgm's from magnetite and missed the boat on exotics...
Electrum should buy open market to -----> $010 cents.
Allow smaller investors to exit from this ( ).
Then.... roll or what ever....
2016 crew said they wanted to move this project forward ( permit, mine )
8 yrs later says it all.... so does the performance chart on pg 12 of the circular.
Imagine if they included 2024's PP on the performance chart ?
Our PFS ( in my opinion ) is incomplete.
Market should be asking junior to fulfill prior ( press statements )
- pgm's from magnetite
- exotics
If PFS is incomplete why should the junior be allowed to roll ?
200:1 = $4 how long would $4 last before sinking ?
Prime target for - shorting
Which means all the more loss to shareholders.
Recent PP = was it performed to secure majority control ?
I read online.... Hedge Funds love to short.
Short selling is what gave the first 'hedged fund' its name, and it continues to be used across the industry to hedge risk and generate profit from overvalued assets.