Couldn't agree more and sold the bulk of my holding above $2.60.
All the potential positives are in the market place, and included in JP Morgans update research note which held the Dec 11 target price @ $2.71 and is not likely to change until much closer to production.
Apart from the gap @ $2.40 there are a number of issues that could negatively impact the SP:
Mt Weld concentrator approval
LAMP approval/protests
LAMP process - all theory at present/no pilot
Corporate governance - which has been more than covered here.
For mine the SP has gone overbought today, partially driven by Moly which stacked on $500m based on a $90m purchase???
i'm staying in!, page-7
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Last
$6.92 |
Change
-0.020(0.29%) |
Mkt cap ! $6.468B | |||
| Open | High | Low | Value | Volume |
| $6.95 | $6.97 | $6.87 | $16.72M | 2.418M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5820 | $6.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.93 | 15020 | 3 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |