I suspect we're seeing an exit from a short term short term position taken in the quite reasonable expectation of a more solid move in share price. Now it seems equally reasonable to expect that nothing is going to change significantly within three months, and maybe not within six.
What's the expected news flow from here? Only a steady dribble of drilling results published a handful of holes at a time. It's hard to believe that any set of holes will produce a re-rate when a 1Moz shallow resource open in all directions at moderate-to-good grades produces only a blip, for Pete's sake!
Makes you wonder what it will take.
$11m EV, Gold, Zinc, Deals (Summary), page-113
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