is cap a buy using ta?, page-17

Agree that price action more likely to be end of year tax loss crystallisation.

Hotrock1 would encourage you to look at GBG's history which has the rolls royce magnetite concentrate in the Karara project. When you are paying over the odds for capex and opex you are extremely exposed to market fluctuations and captive to anyone willing to fund it. None of these projects have come in near the BFS capex hence killing the IRR/NPV and resulting is further massive dilution. The offtake/financier JV doesn't care as they get cost price product.

CAP is a trade only for me once the last of the sellers exhaust themselves into FY end.