Yes, interesting comments @butcherboy. It is difficult to be critical of Vulcan without being shot down because I can understand many holders would dismiss it as bitterness from people that missed getting on the ride (and well done to holders, many have made huge returns and deserve all the profits they have). I recall following the VUL threads some months ago, and where criticism was raised the HotCopper response tended to be "yes, but Gina..."
However trying to be as neutral/unbiased as possible, my judgment would be that with a $1.85 billion market cap, for where the company is on their timeline, there is no room for error - they'll need to execute on their plans perfectly. Having said that, it's very hard to put a price/cap on company valuations when they are playing in the frothy ESG/clean energy space, so incredibly it's still possible that Vulcan pushes higher from here yet. But when doing my own lithium research, comparing similar stage companies - albeit with quite different resource/project approaches - Vulcan seems so fully priced, there's no room for mis-steps. That's just my personal perspective, I have been wrong before and most certainly will be wrong again, possibly here.
As a separate comment, I can understand many holders might feel frustrated that non-holders start crawling out of the woodwork on days like today (I would) but if it's anything like my case I think you may find there have been many people following the company from afar who have been simply amazed at the valuation / assumptions being applied (and swallowed up by the market so happily). That's why I'm so interested in this saga, especially to see how the major shareholders/institutions react. If they've done their own very deep DD then they might shrug and carry on. Anyway, let's wait and see what company management come back with this week. Perhaps it will all be put to bed and life will go on.
(20min delay)