Yeah, but it went down to $0.115c on a measly 32,000 shares worth $3,704.
It's not great for your portfolio or your pride, but it's not like there are fundamental issues with the company or project, nor are there major holders dumping on market (at least at the moment anyways).
The offers were indicative, not formal or binding.
There is a lot more work to be done before a deal will be signed.
The macro environment is on the nose globally.
The steel price has dropped, but the iron ore price has been fairly resilient - but it will drop. Estimates of between $80 - $90 per tonne.
With lump and grade premiums, we should be back towards the $100/t price we need to pay the project back in 2 years.
Steel mills will start unwinding stockpiles, which will put pressure on the IO price.
People need to be patient and trust the work that WAI are doing.
It is about 5 months until the PFS is released, and there should be a heap of questions answered in that, with a lot deeper analysis on how we can maximise revenue from the resource.
Not much we can do apart from strap in and try to be patient.
Yeah, but it went down to $0.115c on a measly 32,000 shares...
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