SO4 ran to 43c on the back of increasing their resource to 85Mt, prior to any test pump results, so disagree with your fairly priced comment. At 43c, their MC was 45m based on SOI at the time, they increased SOI in placement afterwards.
On a proportional, peer-comparison basis, equals MC of 37m for GPH not accounting for 'specific yield', which at over 26% is higher than the figures GPH were aiming for and is the biggest positive. Not very happy about missing the 79Mt mark though, which will scare some people off today.
Plus there might be some residual selling from Brexit if margin calls were hit. Looks like open 11.5 but I think once people properly digest, this should run to 15c+.
APC Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
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