I have to say that I'm not a big fan of ganging up on and groupthink shaming posters on this board that we don't agree with! I have been on the other end of the 'praetorian guard' like tactics to silence dissenting posters. In fact some of my posts were deleted by moderators that were close to the offended reader(s). hmmmmm..... not a good look..... for a very open discussion board like this one..
We have enough of the silencing and misrepresentation of dissenters in the country currently, do we really want a MB like that? Elon Musk doesn't think so, i don't either....... I am advocating for a respectful, civil discourse on the MB, respecting posters- even if it does not always match your opinion...
As such, I happen to agree with some of the things gwm mentioned, (not everything of course)......for instance, he mentions mgmt. not being transparent about the delays (waiting for hardware) for the demo testing.... When i asked Jim S. in April (April 12th to be exact) he said there was a hardware on site delay but it wasn't holding testing back..... then, fast forward 2 1/2 months and we are just now hearing about hardware delays (furnace) preventing scheduled testing...... That is not acceptable to keep investors in the dark for months- with respect to a critical scheduled task that is a prereq. for moving the project to the next level (financing)..
I have been a bit critical of management here on the board, however i have consistently been very complimentary of them as well. Nobody is perfect, and our team has a great deal of experience and background, I have heard others on this board say they are scratching their head at why this stock is trading so low while positive news doesn't have a corresponding impact on share price, my take on that is as follows: (and again this is MY HUMBLE OPINION)
The investor community was reluctant about financing NIO based on the 2019 FS, I truly believe they were spooked by the bankruptcy happenings at Molycorp in 2015, articles were written, some of the authors (perhaps with an axe to grind)- accused MP mgmt. of bad financial decisions.... The video that was circulated the other day detailed how the current CEO of MP (Litinsky) took it out of BK and resurrected MP and is flourishing now..... not sure if the investment community is holding that against our mgmt.? even though in fairness, there were very tough circumstances for a company to operate in at that time in history........ I do not know if that is fair but it may be why it has been a bewildering set of circumstances responsible for NOT BEING FINANCED TO DATE.
Conversely, from everything i have read, the combination of price fixing, dumping and market manipulation by CCP were the main drivers of MP (and many other mining companies) demise, driving US domestic suppliers out of business. That misconception (financial mistakes) along with the speculation on the optimistic projected Scandium pricing, was not enough to entice the financial institutions to pony up almost a $Billion dollars........ Again, i am not in agreement with that viewpoint, but i am not the Bank...
Do i believe this newest FS update, quantifying the REE volume and accreditive contribution to revenue will be enough to 'move the needle' and get us 'over the goal line' ???(please forgive all the cheezy metaphors :) :D ).......
Yes, i absolutely do!! That is why i am still here..... The numbers will be significantly better and with ESG boxes checked and all of the other boxes having to do with responsible mining checked- I think we should be able to execute on financing post haste; if not, there is more at play here than meets the eye.... and i don't even want to go down that path or entertain that thought until the unlikely event that it becomes a possiblity.
However, a strong argument can be made that with the delay since the initial FS (2019 FS) , we than had to deal with the Covid shutdowns and now we are entering a recession (according to most economists- NOT affiliated witht the current administration :) ... and with the looming recession, the additional REE revenue MAY/WILL be offset by a.) higher financing rates and b.) a less enthusiastic response by the large investor/institutional investor community- because of the economic malaise..... thereby holding down and/or adversely affecting the share price appreciation upon financing news..... I certainly hope that does NOT happen! I am hoping for the best for all LONGS here, while keeping both eyes open and keeping it real!!
Best to ALL !!!
NCT / aka Always Realistic
