Does this announcement tell us anything new? Surely management must have known that the market would find it underwhelming. Makes one suspect that driving the SP down is by design so instos/sophs can get in at a bargain.
There are two things that the market is waiting for: flow test and PPSA. The first will tell us whether the resource is economically viable, and the second will provide certainty and so derisk the project.
On the back of this announcement I fear the SP will go lower.
The question is, where is the bottom?
IVZ Price at posting:
8.2¢ Sentiment: Hold Disclosure: Not Held
