I doubt that there is someone trying to drive the price down....

I doubt that there is someone trying to drive the price down. There is no buy pressure so sellers have control. It looks like someone with quite a few shares liquidated yesterday. It's a risk off market, precious metals and base metals have been beat up, energy prices are up and supply chains are tight so it's not an ideal environment for a developer.

I ran the spot prices ($19Ag, $3100Zn, .675 AUD) with increased expenses (+20% Capex & +15% Opex) and the shareprice is still only 39% of NPV8. Of course that is before pricing in any increases in the LOM.

IMO shareprice will continue to bounce around depending on overall liquidity of the market. I'm guessing shareprice won't find it's definitive upswing until 1Q23 so might as well chill out until then.

FWIW I think there is the possibility where the world is coming out of a global recession and transitioning into a goldilocks macro environment right as ADT is about to go into produciton. That's what I'm hoping anyway.