Combination of things:(1) General slide in smaller end of...

Combination of things:

(1) General slide in smaller end of explorers.
(2) No timeline to next drill.
(3) Strong focus on U, with prices for U declining over the last month. Was pretty bullish several months ago, but Trump (anti global warming, pro coal/oil) and Deepseek have turned that over a bit.
(4) Inability to hit pay dirt at Narbalek with a significant exporation budget, lots of good shows and some outstanding %, but small volume hits so far.
(5) Hard to know from Murphy's data with data showing a 2km trend 50cps in U channel.... either they have very lowgrade surface, or high grade buried 50m. Murphys is very greenfields, not like Nabalek.
(6) No mention of Soveriegn in presentation or WA tenements meaning they arent getting much attention.