how isn't there obvious reasons for it to be moving?they've proven through a scoping study in 2022 that they are sitting on one of the best under developed copper mines in the world situated 120km north of Rio tintos mine.
recently received funds of $7m at a 30% premium by Zijin a $6b chinese mining giant and a JV of $35m with very solid funding agreements along the way in regards to commercial production.
brokers are forecasting 27c based off if they can use the funds they received correctly or if they take the easy way out and sell another 25% to Zijin they are forecasting 18c.
Zijin will buy the mine for $50m in the agreement more then what it's worth. got to ask why they're so keen?
not to mention they've acquired red mountain along the same copper belt north east of that current project. plenty to like imo PFS underway to grow there current resource of 3MT cooper and 8Moz of gold. one to watch just broke out 3.9 significantly
Morning Trading April 12, page-245
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