Is This Explorer a Failed Lottery Ticket Or a Turn-Around Play?

How long is that runway?

The best that can be said for some failed gold explorers is that they teach us important lessons. So let’s use this one to explore the question:

What do you do when a company seems to be running out of money while (maybe) succeeding operationally? Is it a “sell and take the loss” or a “hold and hope rising revenue saves the day?” Or — if we’re living dangerously — is it a speculative buy in the hope that attaining profitability will make the stock a 10-bagger?

This is a very common situation, especially in the small-cap miner space. And there’s never a perfect answer. All we can do is weigh the current pros and cons and try to make an informed decision.

So here goes: