For those expecting a massive increase on day 1, perhaps a little patience is required.
As a reminder, I have copied a chart below (sorry, not the best chart, but will show what I am trying to say).
The Vale MuO came out in mid November, where there was a nice jump.
It wasn't until a month later that the price really took off.
It will take a little while for this story to get out to the broader market.
However, take another look at the second page of today's announcement - that is a very easy story to sell.
Product in high demand for use in green steel, access to existing rail and port, neighbouring existing mines and Vale investing as JV partner. One of those existing neighbours is ASX:CIA Champion Iron which went from less than 20 cents in 2016 to over $6 in 2021.
Is there anything else you could ask for in a junior explorer?
And to help the story get out, CLE has a booth at the RUI Explorers Conference in WA this week.
Therefore I think it will be an interesting week - and months to come
For those expecting a massive increase on day 1, perhaps a...
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