The tactic is working. The drops are getting bigger and the volume down is increasing. If this was a different stock we'd suspect something fishy was up with the company. Here we know the inside scoop so we look outward for answers. There's a lot of people who want to know how low this can go and how long it will take to get there. 3 days is my answer to how long. How low? That's a tough one. I can't see it getting below 44 cents. This is a calculated value based off the run up and dilution. If it somehow breached that... we'd be wiped out on paper.
The ray of light? No matter what Teck does right now, 69 cents is below value. The only way this is worth less is if it cannot be mined to to the very bad looking BFS. I say bad looking because it is a matter of optics. If the gov't came out and said never in a million years then ok things could get worse. If Teck took a royalty and walked and we could not raise money to build we could certainly raise money to improve the BFS. Yup, another year but at least we would not lose our shirts.
Right now the market is saying this will not be mined under the current BFS. So if that's the case then you all know what that means.
