The real issue is whether bali copper is worth spending drilling...

The real issue is whether bali copper is worth spending drilling to prove more. Is drilling further to prove the REE resources at arunta west worth it. The answer is yes to both. So an MC of $7m clearly doesnt reflect these resources even unproven. The proof in the pudding is whether those in the know ie the bulk of those owning the shares put their money where they know is potential. I assume they did the $400 test on the REE clays to determine they are a good resource and worth more drilling. No mention made.. Clay REEs are unloved but strategically the US and EU need to focus on these to protect from china dependence. US cant build jets, smart bombs, drones etc with out chinese REEs. Hence aust gov refusal for increased ownership of NTU by chinese company. So if they want to fight china they need another source for REEs which is australia. I can see strategic moves to develop these unloved resources earlier than latter. REEs will be a sleeper for time being. For the next 6 months nothing is going to happen. Just realise the tax loss in current year and rebuy for future gains. However if bali south drilling proves resources then who knows.