@fincmifr ... This bit I mostly agree with........... " If you...

@fincmifr ... This bit I mostly agree with...........

" 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."

Except the amount, by around $50M. Last year early on, before all the Niobium the company was valued by the market at around the $50M Mcap, and there hasn't been anything major from any of the other projects yet, so I can't see why the valuation of them would have gone up much. If there is a decent hit in any of the other projects this will of course change..

It's possibly my experience in a whole lot of juniors that jades me to thinking that something not quite big enough to be a stand alone mine, has much value at all. I've seen gold juniors sit on reasonable deposits for years then sell it off for a relative pittance, only to see the purchaser make a fortune on that deposit by taking it to a nearby mill they own as part of their own operation.

Luni has enough mineralisation of high grade above 2% for a couple of decades, so whoever owns it can maximise their own mill for that period before needing any high grade material, so it's possible that ENR could just sit on what they have for years, with only a cost and no real benefit, just like the junior gold explorers have been through.

If someone big did decide to buy up the area, they could just sit on what they have (Luni) and make ENR an offer in the future when the company is desperate for funds, or at least expect to do that. I can't see anyone paying $100M for the Niobium ENR currently have, even if they go through the process of doing MRE's on Green, Emily and Crean. It's the bit above 2% grade that will count, which will be limited if you go through the results so far (which is time consuming as I have done it).

Make no mistake if the SP came down to what I thought a decent level for what the possibilities are, then I would again buy in, just like I did a week or 2 ago prior to the latest results, and if they were really good, would then be holding for the longer term.

For your sake and all other holders, I hope I'm incorrect, and you are correct, with a sudden large find. I'd probably still jump in then anyway, just pay a higher price..

Looking at the charts though, over the last 2 years, there is a history of spurts up, then a longer drift back down as each 'hope' has been dashed to some extent.. I don't see much in the guise of just sideways action for a month or 2.