It's pretty simple hat's happening with the current share price,...

It's pretty simple hat's happening with the current share price, it's in the unknown stage. the market obviously likes the management and Encounter has a much higher valuation than most junior explorers, and I agree management and expenditures in the ground compared to staff, admin and corporate have been around the best at this end of the market.

The real problem is about the discovery of something that could be mined. So far a lot of fantastic sniffs, but nothing large enough to really underline value. Encounter has great ground and some very good projects farmed out, bit as of yet nothing significant discovered.

The closest is of course the Niobium, right next to WA1's Luni discovery, with the SP going up and down like a yoyo, depending upon each announcement. Over $200M in mcap without any type of resource is very rich, which means the market has a built in expectation of better results. IMHO a good continuation of any of the existing finds, will add to the SP, but just as likely any poorer results ruling out one of the areas would see SP fall.
What was the Mcap before any Niobium found?? Going back a couple of years around 10-20c, with a much lower Mcap because of dilution since then. Without any real discovery, this is the area I'd expect the SP to go back to.

Remember WA1 has enough resource for a mine for decades, so wont need whatever is found here if very minor, but a larger discovery, good enough to be mined on it's own will add tremendous value.

Again IMHO with a decent Niobium discovery, the only option would be to work with WA1 on all development, something like a merger/TO/JV. To try and build 2 mines in competition with each other would be disastrous for both. First more high grade weathered Niobium has to be found. So far it's looking very scattered.

Even though I don't currently hold, I do have every intention of holding again when the results are clearly positive, or they decide to drill into some of my preferred areas (Both sides along the Endurance fault, in the gravity highs to the South of Hoschke).