I was typing on a phone sorry. But I was not being sarcastic, nor overly exaggerating. I just think it was clever, not super clever....that’s what makes me more annoyed at myself!
However, a lot of money been made over the years by buying mining stocks very close to production ! Particularly where there is potential exploration upside.
I really think it is a reflection of the market...if it was a trendy battery type mineral maybe a bit more excitement. I’ve been following shares since I was over 18 , about 35yrs ago; and the thing is I am sure that once the main risk approaching a DFS was whether it was a goer, and how the margins stack up, how much capex and payback etc. if it was good, it gave the share price a good kick, and equity raising hardly an issue! This was good...and it’s still down! The board needs to outsmart the smarties in the market....something innovative needed.
Share price reaction: Institutional behaviour says a lot...they try and be too clever! also general risk aversion still kicking around post the GFC....should have been more takeovers than there has been..given low interest rates and generally favourable economy.
EAR Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held
