Ann: Change to Registered Office Address, page-7

I think you're being optimistic with your $3.50 post-SML assessment. Short term, I'm tipping maybe a touch over $2. There'll be a lot of profit taking at that point, which will keep the price somewhat suppressed relative to "fair value".

If there's a continued stream of good news (offtake and finance being the obvious ones), then we'll see gradual appreciation over the $3 mark, but it'll take a bit of time to build up to that point.

The point is, any time you see a spike in price, you'll see people jumping out and taking profits. Guaranteed. How much appreciation will occur depends heavily on how much demand there is for the stock. Some of that will be driven by funds who have their requirements ticked off for entry. But I think it'll be over a longer period rather than short term spike.

Hopefully I'm wrong - but time, as always, will tell.