"Guys usually when the shares fall from 17.5 to 9 cents in the background something happening"
Looking at your statement again, it's worth noting that that's old data. That low formed during the tax loss selling period and no negative news has been released since that low formed more than two months ago. So nothing was going on in the background that justified that drop other than tax loss selling and the broader small cap sell-off. In fact since that low formed we have had plenty of positive news, namely; Environmental approval licences received for construction activities EPCM contract signed Binding offtake agreement signed with key buyer of fertiliser Green Ammonia site secured at a very low cost of $300 per year - confirming the strong government support. So there was plenty going on in the background but it was all positive. About the only negative is that we are still waiting on the debt funding but that was more than factored into the sp and the sp has climbed off that low anyway. It's easy to imagine how the sp will respond to the final funding being secured from this low a mc and a clear pathway to production.
If you are going to question why the sp fell into June, shouldn't you now be asking why the sp has gained 30% since then? Clearly those announcements above played a part but you could also now ask why the sudden increase in buyer interest over the last couple of days.
MNB Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
