well, i would comment to that sentiment, look at the markets,...

well, i would comment to that sentiment, look at the markets, the money flow, and adjust expectations and timelines.

Specs have been brutal since Feb. Trump trade war etc has put ASX spec money on slow.

I dont stress too much about the overhang, i dont know how much CR who paid 3.7c did so as a short term hold, to cut losses because others have sold at 3c, etc, to follow them.

That overhang, might be sticky, it might be not in part.
Why did they buy ? as an investment into a 4m mc best sector ? or as a short term trade?
Were they silly enough, in a bear market, to gamble on a quick return ?
Or did they realise that there are certain tangible steps ahead, like resource upgrades, scoping studies, that could attract larger market participation ?
Were they prepared to wait that 3-6month window? or did they really think it was going on a ball tearer after the cr was closed ?

At the end of the day, it is a 2m EV/ 4m MC that has a historic assets going through Jorc validation upgrades to a hot sector.

Directors buying, follow the money. 200k from Peter Wall.

WHere do you want to get a better seat ? to hold for a few weeks? or a year or two ?
Each to their own, but my radar is tuned to disparity of peers. And identifying marketable differentiation that gives a higher credibility over peers to move ahead. The rest of the noise is rubbish.

IMO Dont pay 50m for the peer who has the hard road of finance ahead, but pay 4m for the micro who has a comparable resource, and more favorable jurisdiction and logistics.

The challenge is in being patient, and monitoring if the company are indeed progressing on each of the items they need to, in order that they can then promote this at a later stage with boxes ticked. Value added, and then to garnish market buyers.