Just about made it to 25c and double the great 12.5c CR heist...

Just about made it to 25c and double the great 12.5c CR heist for insiders. Well done to all those who shorted on the way down, knew about the mine plan downgrade, cash shortfall and were fortunate enough to average down into the rock bottom placement...

Decision time now for those retail muppets who bought the positive spin all the way down from the 2021 MRE driven downgrade as they contemplate getting heads back above water. It's a sell for mine. Completion of mine build ends the lowest risk, obvious hurdle of putting the lego blocks together. The pending ramp-up into nameplate production is higher risk technically and will reveal the true state of opex vs FS assumptions. Risked-value vs MC has shrunk significantly this last pump, looks over-valued is my gut feeling from memory (forgotten most of what I analysed 5 months ago).

More practically, who are the new bagholders going to buy out all the high fiving long suffering wanting to finally cash out? Seriously... who is going to tip big money at over double the MC now, while all the big risks remain with management's disclosure history? Nimble retail with modest holdings might get out but the bigger holders who used the 12.5c push-down to average down will find it near impossible over any reasonable period of time.

Won;t be popular, but thought a contrarian view worth considering here.