I don't see the recent rise in shareprice as a feeding frenzy....

I don't see the recent rise in shareprice as a feeding frenzy. Rather a (still slow) recognition of the inherent fundamental value of what is really a new company.
It is almost as if the market still sees the future profitability of BRL as inconceivable (even with the shareprice at current levels).
Based on the projected production, the possibility of much less dilution, and eventually a settled coking coal price north of $US150, I'm picking the shareprice has a way to go yet.
The feeding frenzy may be yet to come.