Comment by allaboutvalueon Jun 05, 2024 10:26am

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Post# 36073089
RE:$87million raised since 3 September 2020
RE:$87million raised since 3 September 2020I understand the frustration. No arguments here about shareholders being long overdue to see some material progress and value creation. Many shareholders are frustrated that the current share price is in the same range of where it was 4 years ago.
I see more than hot air showing for a large portion of the money raised since the PEA. In 2020 there was something like $10 million of debt and something like $10 million of land option payments due that have been paid now. The project has been derisked since then (larger resource, met work) and there was still something like $16 million of cash on hand on the Q1 financials. All Canadian dollars.
These numbers don't add to $87 million, but there is something to show for the $ raised compared to if the company was in the same position it was in back in 2020. It does make me look at other earlier stage developers negatively with the understanding that there will be a ton of money and time needed to get from a discovery to being a shovel ready project. I don't think the general market fully comprehends this at the point of discovery, maybe it explains the lassonde curve but it makes me shy away from some of the other discovery stories.