It is definitely undervalued, but it is not cash in the hat yet....

It is definitely undervalued, but it is not cash in the hat yet. There are many steps on the way, the DFS, financing, getting the mine operational ... all involve some degree of risk. The share price will only go up as either the risk diminishes as each step is successfully concluded ... or more people come on board willing to invest higher price into that risk. If however, it all falls apart the current value of the components will not get realised to investors.

I think it is all good, and invested when the merger and cheap plant looked good, but since then it has gone down a fair way, bounced up a bit but still at a loss. People investing at the low have done very well, and might want to take their profits as price goes up. It looks like the price is going up now, although there will be a few drops with the market. Particularly anything that might change the long term outlook for copper prices and spook the financing.

I think the share price increase will be gradual until the financing is a done deal, then should fly. Not too long to wait though.