These are all good points that you make Yokka. Further to this it is my opinion that the main reason for the latest price strength is the fact that FCN must be/are very close to announcing the start of drilling at Saxby. Northern Queensland...see latest company report. I attended AGM where Kerry and Simon (geologist) alluded to their excitement of what potentially lies beneath Saxby. I am no expert in defining their maps and coloured diagrams etc but it appears HUGE.
It was made clear they wanted to proceed drilling this area at their earliest but would have to wait till the end of the wet season (late May)
Hoping my assumptions are close to the money.
Beeppman.
up 10 percent, page-7
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