Financials are due some time in the next few weeks. It seems that they are now in production, i.e. producing chrome ore like a normal mine. My guess is there was some buying ahead of financials being released in anticipation of first set of results including some production numbers. If these guys get the production right with low costs, it could get big. Also, it doesn't take too much to move the share price because it's so thinly traded.
Yup. Definitely a waste. Not sure they will have enough cash to be able to operate for the next year. That's a massive loss. Was hoping for at least a small loss but it seems these guys are just not cutting it. At this point, their best course of action would be to sell their one asset and mining rights to some Chinese company at a massive discount. Otherwise they may be headed for bankruptcy.