I have stated my reasoning many times before:
I believe we retail Investors are not being told the full truth of what has been going on in financing negotiations behind closed doors. It is a clear fact that we were told financing was just a matter of months more than two or three years ago. Management seemed genuinely optimistic at the time that financing could be announced in 2019 or 2020. Yet nothing materialized.
There has never been a convincing explanation for why on earth it is so difficult to raise a billion dollars at a time where trillions worldwide are desperately looking for a profitable project, if the Elk Creek project was really so profitable and derisked as we have been told for years now.
Imho, the only logical explanation is that potential Investors took a very close look at the scandium market and just were not willing to take the gamble and bet their money on nothing more than a disputed market analysis by a single individual. Hence the recent move towards exploitation of rare earths. I think investors told management to come back with an updated FS including hard facts and numbers on commodities like niobium and rare earths with an established demand and market price.
We will see who is right eventually: If I am correct, we will be fed another update of the FS before we see the billion bucks coming in. If that happens, I am not holding my breath that any of the posters on this board who have been abusing me for my alleged negativity will apologize. If on the other hand I turn out to be wrong and management surprises us with the big F within the next few weeks or months, I will be the first to say mea culpa for ever doubting management.
