This is a positive announcement, no doubt about it (personally I had wondered if the varying delays and lack of numbers in the SS meant TE were considering dropping the project). But to those disappointed about the share price performance today, just remember:
- This announcement effectively keeps the lights on and moves it forward to the next step – without TE it would likely have been game over
- The price has already run very hot from the 30 June lows of 5.2c, up 175%
- As others have noted, the project will be years and years in the making, this is a proper long-term play and people get bored
- Ownership is 50/50 but now so is funding, this likely means plenty of capital raises/dilution – PFS’s and DFS’s don’t come cheap
None of this intended to be negative, but it is what it is – the market is forward looking, and all of those factors combine to mean the price isn’t going to moon just because the deal
hasn’t been abandoned. Don’t forget, nobody has any figures on this project yet, and today’s market cap is $171M already. As a side note, all this talk about "manipulation" only happens when the share price is flat or down - nobody ever says "my stock is being manipulated upwards!" There is usually a rational explanation for why a share price isn't doing what a holder expects, and it's generally because the market is less excited about something than you are. It doesn't make it a bad investment. But if you read HotCopper widely, just about every share price on the bourse is being manipulated/accumulated/suppressed by the big boys, etc...
Good luck from here - and a good outcome today. I'll continue to watch from a safe distance. Cheers
