Sunrise Energy Metals Ltd (SREMF)

[tedro84]

First of all, Cleanteq doesn’t “keep dropping”. The company had a significant drop when cobalt prices collapsed and another drop due to the engineering delay and apparent poor decision of hiring MCC as EPC.

The only point I want to make with this is that CLQ is tied to fundamentals. Cobalt at $15/kg does not work for this project. Hence the current price. The good news for investors is that the long term cobalt predictions are still right in line with the FS projections. Work is well underway and they continue to put capex into the project even without a final financing deal. Off the top of my head I believe they have $70M aud in cash at that moment. RW may correct this but they are clearly not cash strained.

NioCorp on the other hand has less cash in the bank than many of their investors. $53k as of the last filing. The share price is completely separated from reality. Aside from Smiths shares the rest of the ownership is nearly completely retail investors and the share price is a reflection of the overabundant enthusiasm for a get rich quick scheme propagated by management.