Well IPO Investors who invested in this project with significant...

Well IPO Investors who invested in this project with significant potential nearly 4 years ago are still in the negative. Less so after the 90% rise in the share price over the last 3 weeks.

Looking at the reports, the company had always stressed lower CAPEX and OPEX, long mine life and numerous other advantages and despite gaining momentum with technical studies meant to progress the project as well as finding partners and expertise, the SP has been in long-term decline until only recently. You would think a "forward looking" market with have at least allowed the share price to stay stable given the derisking events that have occured over the last 4 years along with the existing project potential. In addition, the drilling at Ohmgebirge has continiously been stressed in 2020 reports but the share price remained trapped for most of 2020 and most of 2021.

Why is the share price only rising now?

For those astute investors who had the risk appetite and the due diligence to see this project through for many years, congragulations. But for those new, an I am willing to bet most new holders had not even noticed the stock until it began to display substantial price movements, its a bit short sighted saying the market is a "forward looking beast racing to price in upside before the main crowd turns up", because clearly that has not been the case for many years.

From my understanding of market psychology, the astute investors who do enough FA have a particular price rise in mind; that is the true rise the stock should take. But the original price rise captured by these astute investors attract other investors who want in some of the action themselves bidding the price up which again repeats itself, sending the stock way higher than reasonable. Though I'm not saying this situation is going to apply to SHP, the market "pricing in" upside is perpetual, there is no "main crowd". There is the intrinsic price rise which is justified, and then a speculative price rise created by the demand of new investors who want in which in turn, creates even more demand.