As much as i want these bad boys to keep going up indefinitely, i think it's almost getting towards fair value. We've gone from 6c -> 45c in a few months.
In the end you have to start looking at the actual JORC they might end up with. We know there's a potentially large resource under Gum Flat but it's going to be minimal DSO so we aint looking at a Sandfire(SFR) or Rex(RXM).
On the other hand, i suppose there's still a lot of surveying and drilling to be done, which could obviously increase the resource and maybe the ore body will turn out more extensive than we thought. Maybe Chinese "interested parties" really liked what they saw hence the hot buying action...
LML Price at posting:
43.8¢ Sentiment: Hold Disclosure: Held
