Frustrating exercise. 6 months ago were are mid $2's, since then commodity prices have barely moved, expansion case to 2x throughput has been canned and we are going straight to 3x which is now 6 months closer, the patent for HPMSM has been confirmed, the process has been confirmed using run of mine Butcherbird ore, we are shipping ore and ramp up is all but complete with a few enhancements and market cap is nowhere near phase 1 post tax NPV and a poultry 33% of phase 2 and you get HPMSM potential for free. This feels like its one of the cheapest mineral stocks on the ASX, but it has also proven to be one of the most frustrating. Personally, I have bought higher, and I have bought lower. Falls on low volume are frustrating but I suspect there is a number of watchers waiting for confirmation of PFS, and a few games being played as well. I guess then we will find out whether its cheap or I am a fool. Has to be one or the other!! Clearly my vote is the former.
E25 Price at posting:
$1.91 Sentiment: Buy Disclosure: Held
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