Post by
Castling1 on Feb 19, 2021 12:42pm
Equity Flight
Cyrus Capital reduced it's equity by 66% to 2% ownership.... not good.
I was expecting a 'dead cat' bounce in the share price after it cratered on the 10th but instead there's been a further, slow decay in price......not good.
Why in the world wasn't there a PFS and FS executed for the Nalunaq project, project deliverable sensitivities would have been identified before rushing into capital outlays including COVID impacts.
Just because the project was a former producer doesn't justify not taking risk mitigation studies.
I can't figure it out, reminds me of Rubicon Minerals and their Phoenix project in Red Lake a few years back, the share price collapsed 98% at its low - again no FS.
How does the company COO, M. Menard, rationalize all or can he?
I truly believe this guy's over his head.
Yes, I have skin in the game.
Comment by
CowboysFHell on Feb 20, 2021 2:59pm
I bought in at 50 cents after that dip. now I'm second guessing might have to bail out if it doesn't move soon.