Knowing how SHP has rerated previously, I wouldn't be overly surprised!
What we are seeing now is a strong frictionless rerate to ~9c as the dominant sole seller from 10c -> 7c was Nomura, so my thoughts are those selling now are those who picked up shares at low 7s and flipping for profits.
The majority though I imagine, as sharing same sentiment as me, are holding for a longer term perspective to reach those Cenkos targets.
What does this mean? I think we will churn through those few flippers from 7s very, very quickly and the SP will stick at a higher price as where will the selling supply come from otherwise?
Add permits and drills starting and low-mid teens are likely imo.
Exciting times! As always, not financial advice and GLTAH.
7.5c SP -> $1.11 SP Target (Largest Potash Deposit in West-Europe) $30M MC, page-117
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