The rotation into junior commodity plays (and STM is a junior in the true meaning of the word at this stage) is still in its infancy. Commodity following funds and family offices at this stage are really only just starting to buy into 'no brainer' investments likes of FFM and SPR át this stage (star explorers, bigger market caps and well advanced towards production/takeover). In my view, we are still 6 (to maybe) 12 months away from the wave of money tipping into this end of the junior market. At that stage, every fund/retail investor will be looking to get on the commodity up cycle bandwagon. There's a stack of junior gold/silver/copper juniors I follow that are even more advanced than STM in their journey, and their share prices haven't moved either. Wait till the rush to get out of equities truly is on in earnest. Very early days yet and interest rates are only just starting to taper off in US too. If STM management can deliver on the investment strategy Duffy has been clearly outlining in the last few weeks, they will be well placed to grow and the SP will eventually follow.
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