Ann: Siviour Battery Anode Material Study Results, page-127

pretty hard to pinpoint mate, but most battery material stocks get sold the day of good news over the past year or so. It's a different market to that of 2020/2021.
I can only speak of the stocks I watch in the sector (60 or so) and it really seems like the early stage discoveries are rewarded (see AZS) or the large caps such as PLS.
PMT came out with the MRE for VC5 at 109mt and I think it closed red on the day, even though that is a huge resource.

If you're long term then a buy today at approx. $400m MC will surely be rewarded. Others may not want money tied up. Who really knows.