Given macro conditions (higher rates for longer) I guess there's also an argument that the bulk of the spec end of the market is currently irrelevant too (argument that companies are competing for a slice from a smaller currently available capital pie). In this context, I think OZM is holding up reasonably well. I'm assuming Mulgabbie provides a floor whilst the Niobium provides blind hope! Being able to operate on a shoestring budget along with having your competitive advantage in the drilling realm, doesn't hurt either.
