E25 2.04% 24.0¢ element 25 limited

I've also seen that plenty of times but my suspicion was that it...

  1. 2,623 Posts.
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    I've also seen that plenty of times but my suspicion was that it wasn't going to happen here. I was happy for the weakness yesterday which allowed me to add to my position but my buy price was set well above the CR price. I think what is driving this price higher and why it was unlikely to retreat to the CR price is all due to NPV. We are still trading at a significant discount to the phase 1 NPV and this does not yet factor in the subsequent phase (which the CR will enable), nor the rising Manganese price nor the EMM plant. On the last 2, I wouldn't expect any great contribution to the SP from these yet as a) rising Manganese price would be offset by strong AUD and b) we haven't seen the PFS for the EMM plant yet. Just a case of: if you can buy $2 of value for $1, why wouldn't you buy it? All IMO and DYOR.
 
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