And it's not only the number of shares that will temper any anticipated rise in the RR1 share price, but also the comparitive environment between WA1 and RR1.
WA1 exploration success was at a time when metals were in favour and share prices reflected that, but RR1 finds itself in a time of uncertainty.
Although the world is going to need a lot more metal if it is to meet its carbon reduction targets, unfortunately current prices are too low to incentivise the necessary investment in new mine and smelter capacity and the junior explorers in the short term, at least, are feeling the brunt of headwinds such as uncertainty of supply and demand, persistent inflation and the likelihood of interest rates staying higher for longer.
If RR1 does have exploration success don't expect the windfall WA1 delivered to shareholders.
RR1 Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
