That is why I finally registered to say my piece (after 9 years invested), while I was pulling my money out of the stock. I feel fortunate that I didn't outright lose money (but definitely did when factoring in inflation), just putting that money into an index would have been far more profitable over that time period. I got lots of detractor comments as well, but I also noticed that some of the biggest pumpers and know-it-alls have been absent lately. Right now, this stock is following the exact same trend of most SPAC mergers and I could see it trickling down to 20% of its starting value inside of a year without any major updates. There is a lot of hope for this company, but after really digesting the SPAC "deal", it was clear to me how incredibly bad it was and the hope coming out on the board was turning into pure delusion. Like Duke said, where were all those other investors Mark had lined up? He said multiple times he had many deals to choose from. Merging with GX reeks of desperation and it seems incredibly foolish of Mark to think that there wouldn't be extremely high redemptions... and the wording of their own highly candy-coated fluff piece on the deSPAC seemed to indicate that the last hope is that being on the NASDAQ will give them some exposure to institutional investors. For me, that reinforces the feeling that right now we are like a big jellyfish floating aimlessly out in the open ocean, waiting for some big, stupid fish to just waltz into our tentacles. I don't see that happening with a non-government affiliated institution. Anything driven by a purely monetary profit motive will probably not invest in this yet.
However, extremely good REE results, i.e. changing the EBITDA so much that just the REEs alone with the Niobium would make this mine profitable (with Scandium as a bonus), are what I am hoping for. I would get back in for that. The Scandium pricing has always been a huge problem and no one outside of a government is going to back this because it's a big risk for relatively low upside. That EXIM loan possibility is a bright ray of light in a tunnel that is otherwise only bleakly lit by the possibility of really great REE results. But things are moving so incredibly slowly on this front. Management should be far more transparent and communicative about delays and investors should get at least monthly updates on progress.
Bearish