It will certainly help the analyst to be able to put a valuation on the stock and do comparable with other listed graphite players, seeing everything EV related is hot right now.
To initiate coverage on a stock, the broker needs to devote resources so they always expect to get something out of it, usually the role of equity raising such as IPO and placements which I heard Hartleys did for them, not sure what Baker Young's involvement was. IRI research could have been commissioned by MUS to get things started.
I have been told that the regulating body in Australia is extremely strict so any recommending speculative (none profitable) stocks are taken with much more care than it has before. If a non-related broker house is going to initiate a BUY recommendation on MUS right at this moment we are really asking them to take on unnecessary risk without just reward.
All in all, any JORC is important and a big step forward and we need a good one, so take their time I say and let the market focus on the rubies for now.
MUS Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
