speaking of the share price, I think I need to re-evaluate my earlier statement, support at 1.2-1.3c is indeed building, but resistance of 1.5-1.6c is far too conservative. I think we will see interchanges between growth periods and accumulation over the coming months. The nextOre trial is definitely a catalyst for short-term growth, but as others have said, the federal budget news and iron ore price forecasts are also very positive drivers.
I think we will form a new base around 2c in the short term, without announcements, a re-rate that is pricing in that PFS is funded and that this stage of development has been derisked. I think that announcements and positive steps towards PFS will bring us up to 3-4c before the PFS results are officially released and may be driven by:
- nextOre trial results
- announcements informing shareholders of progress towards PFS
- joint venture agreements for DFS/BFS
with this last point, I think it may involve negotiation with BMD for a better deal that better reflects our market cap and future prospects, and support from the market, and it may also involve offers from other companies. IMO DYOR
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