One month ago in “If Goldshore Resources (GSHR.v) wants its share price higher…” we pointed to the cruel reality of things at this promo pump vehicle:
“The only way GSHR stops the rot is to hit the reset button, assume 20c is the new baseline, bite the bullet, raise capital to get through more than just one quarter (preferably all 2023 and some of 2024) and get it done at the price indicated by that nice Mr. Market, be it horribly dilutive to current holders or not. If they don’t face up to the cruel reality they’re set to waste another six months and will get zero traction when the 43-101s are announced.”
Since then we’ve had:
- A CEO insisting that all is well, the plan is fine as it stands and a painful “We Will Conquer” performance in a live webinar that was all blather, zero substance
- A director resignation
- A share price which continues to flounder
No longer holding the 20c line, GSHR is down at 18.25c this Friday afternoon and the way it’s failed to react this week, stubbornly sold while the rest of the sector enjoys a modest rebound…
…is all-too typical of the way it has traded recently. This is destined to continue as long as its failed CEO continues to repeat the same mistake, time and again. Shareholders deserve better than this, especially at the rate this company burns its office G&A.