It would increase (and more importantly stabilise) the SP, but not the double in SP some people expect. Not really here to speculate too much on SP but a doubling of the MRE will carry more weight when actually proven (even though we do expect an easy doubling (and tripling/quadrupling the year after).
Where I disagree with your assessment on the SP remaining this low by the end of the year is that there's just so much upside so if even half of it comes good, we have plenty of catalysts which when combined could easily bring us higher.
I see things as somewhere in the middle between the hyper bullish predictions of 50c + and the idea this stays flat all year. Both are very unrealistic.
But we really are at the point where the drill bit will do the talking so I'll shut up and let's see how the year goes. I am quite optimistic.
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