Trading is still directionless and on low volume. In this...

Trading is still directionless and on low volume.
In this environment and set-up, it will always favour the conservative.

Speculative rises are almost always the most extreme and we've 100% enjoyed them - it's the best time to make quick money.

Now, closer to the assays dropping, the market has factored in the risk of what the initial pegs will reveal. Cos mineralogy/facts are the adversary of spec.

So, at this point, you'd have to say fair value? Or probs a bit unders IMO.

The market is set and to date, you have to give credibility to management cos (as far as we know) no leaky ships.
No meaningful swings on volume.

Short term, this is 100% a punt on the pending assays. Long term, it matters less if you believe in the ground we own (I'm not here for REE) and the competence of our management. Nearlogy is very, very suggestive. As is the slab of granite deeper in.

And our market cap is a joke.

Personally, I still own a stack, and am still very bullish here, with a larger, longer-term vision of the geography and geology. But have done really, really well out of VSR, so can afford to be. Punt within your limits crew - that is actually investment advice.

Let's hope these initial assays point to a spod-district-no-brainer.