Can't see why people are not happy.
Big volumes traded yesterday. My take on the price is that the day traders jumped in early and loaded up on 2m shares at 42c hoping for a decent jump which didn't follow and they took a beating exiting at 39c providing a nice entry for the investors.
The big picture:
We are currently mining only Kavanagh and Spitfire, presumably reserves , which comprised 2,100Kt @ an average grade of 0.95% in the Sept 2024 estimate.
From Sept 2024 to end of May 2025 we processed 875Kt @ an average grade of 0.9% which leaves us with 1.225Kt @ an average of 0.99%.
The good news is that May's 124,000 tonnes is 1.5 mtpa so we are well on the way to half filling the plant and at that rate have 10 months at an average grade of 0.99% ahead of us form that old MRE.
With all the drilling thats happening to convert resources to reserves there is a very bright future ahead.
(20min delay)