red bore history, page-5

and what drove the SP to 70c was the BHP bid for UMC (oct 2009); the next spike at aug 2010 was the news of red bore, once all the excitement settled down it drifted to ~60c and then fukushima happened SP got smashed to 30c (so my analysis says ~50% of the MC was related to uranium now worth nothing). then richmond dispute happened and the SP went to about where it is now.

So you could probably argue that the difference of 15c or so in the SP is market sentiment about Doolgunna - i.e. no one else but SFR has anything to show for years of exploration.I hold the view that that is going to change and the region is going to get a positive re-rating as the current programs of drilling start to produce results over the coming weeks and months.

I'm not sure the market has factored anything in really from the holding going from 60% to 90%. A little bit more upside when that gets more attention.