there is no indication so far the brokers have built up material holding, could have easily bought probably close to 200M share by now at below 2 cents, through the last couple of months; but no indication of any new substantial holders at this stage. yeah the new FY they have no foresight in their tax planning this might reduce they ability to muck around with the stock. Once the year commences and they built up losses under revenue account they will probably go at again. By that time though the fieldwork programme would already in action.
Will probably overshoot 3 cents, with any decent announcement; even with something from Mary Valley imo. given how much something like E25 has shot up. Its very much a strategic holding; you'd expect the fence sitters try to tie up a off-take once the QLD gives the nod. This was raised at the AGM and before about possible farm-in? (or JV). We had one investor come down - hadn't seen him in last two AGM; very passionate about the Mary Valley - would not be surprised if they were part of a bigger picture.
We have a neon sign that says we are heavily undervalued, and very much a thematic play.....and no debt.
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