Right, but the stock ran from $0.03 to $0.66, company cleaned up it's balance sheet, signed a JV, things have progressed a lot internally. Plus like you said, CAR has improved and nobody can deny that. But the rebels are slowly losing and state control is coming back. I am actually looking forward to the Bangui Mining Expo end of the month. But I agree, it's going to take a bit more time but things are very close now. The site survey was completed as well, so that can give the market a strong indication of how much gold was actually taken, plus help solidify the deals. Financing isn't an issue, the JV will pay for everything, just depends on what they want in turn, could be 50% of the asset. Still a good deal at this point.
Also Senegal is a very hot market right now for Gold and Axmin still has 20% interest in 338km2 with Teranga, along with 17 royalty targets.
As for the price, there's been incredible manipulation in the price. There's a group of traders that continue to tape the line down in hopes of causing a stampede of sellers. Then on top of that, constant defamatory statements are being posted on Stockhouse and CEO. A lot of effort to try and keep this down because as you pointed out, things will go back to normal and then the ROI potential is massive. People want to keep is sleeping until that point and this has been ongoing since I bought in February 2018. |
