Imo, the share price is still undervalued and it's hard to pinpoint why?
As Ian Finch stated earlier this year on the Gold Coast, IFE was floated at $1.00 3 years ago. Given the projects huge potential, low start up costs, and progress that has been achieved during that time in his words he was "perplexed" as to its share price 3 years down the track.
Going over its price history, I noticed it reached a high of $1.89 in Oct 07 and a low of .13 around Dec 08 (GFC). It had a break out after signing MOU with China earlier this year went to $1.67 and was travelling well until MRRT was announced and China pulled out.
To me it looks like investor confidence still hasn't returned post GFC especially in speckies like these, I agree with Marneth's comments regarding the Greens and mining tax would only be adding to uncertainty for the likes of mining juniors.
On the upshot - it's a great time to top up at these prices.
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