Exactly - the market hasn't missed this. The market apparently is aware of the history of management failure to deliver far simpler ambitions, like establishing a simple ore digging operation. And the Louisiana plant is, what, 10x the scale and complexity of the Butcherbird quarry? 100x?
Obviously the US administration is sufficiently convinced of management's ability to gift the company hundreds of millions. That is worth something. Time will tell whether they know something we don't, or if the grant is just the kind of waste that happens when governments decided to tip huge $$$ into a particular industry.
I had hoped the market would overlook that history of failure and run this up uncritically. That could still happen. But it would be unsurprising if the share price continued to languish until JB and the team can get some kind of runs on the board.
E25 Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
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