Ann: Positive PFS Results for Razorback Iron Ore Project, page-310

I dont think it has anything to do with the market not understanding the PFS...
I believe that the positive results expected (and delivered) in the PFS were already accounted for in the SP, prior to it coming out.

From here they key steps to get the project to construction are;
DFS - which further de-risks the project a more detailed and comprehensive study to confirm definitively whether the project will proceed which includes all the legal, environmental, engineering etc.
The last step is financing.

I think understanding that not everyone is in this stock for the long haul (whether you agree or disagree with this is completely up to you) and understanding that different investors have different investment strategies, upon the PFS being issued to market, a lot of retail investors will sell.

The news to follow the PFS will de-risk the project, but does not add inferred value to the stock.
What follows is financing, which often includes CR and the like, which leads to share dilution - something that retail investors generally hate.

This dump is not unexpected, LT holders, watch the TA to pick a point to add more to your portfolio, its the perfect time to top up.
- Project De Risked
- Further De Risking to follow
- Project development to production

DYOR & MYOD