It may have something to do with the declining price of ore, the news on HPMSM is promising which I suspect lead to the rise but the price of ore is not so good, this is taken from the OMH quarterly report
Fastmarkets MB reported that the price of 44% Mn ore closed at US$4.41/dmtu CIF China at the end of September 2022, a decrease of 39.3% from US$7.27/dmtu CIF China at the end ofJune 2022.
Difficult to see E25 making good profits when the price is 4 to 5 $ when they failed to make money when it was 7 to 8.
I suspect the sp may come under pressure prior to December when I understand the feasibility report is due.
I am out for now but will be looking for an opportunity to get back in if it goes lower.
E25 Price at posting:
$1.01 Sentiment: None Disclosure: Not Held
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