I didn't say I agree with the MRE speculation. From a technical perspective this has been drifting downward since july. It now seems to have found a bottom at 40c which looks pretty firm to me. My base case with this lens is that it will not continue to drift below 40c on no news.
You can argue that it's not worth 40c on fundamentals but technicals suggest the market disagrees in the short/medium term. I still think there is huge potential upside from a number of their prospects (not limited to Niobium).
If you discount all their other projects and cash, the Niobium potential is probably being valued by the market ~$100m which I personally don't think is unreasonable given the potential for a major to consolidate these tenements with those held by WA1.
ENR Price at posting:
44.0¢ Sentiment: Hold Disclosure: Held
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