What an epic organised pump on almost meaningless 20% MRE...

What an epic organised pump on almost meaningless 20% MRE upgrade that was always coming based on some extensional drilling results released long ago. Not often do long-suffering holders get the opportunity to exit from an illiquid cray-pot loser like this, no excuse for riding this back down again, as these pumps so often do...no excuse but greed or delusion.

For those interested, I ran my knuckles over this 9 months ago on release of the scoping study. A number of posts over a couple of weeks, lots of analysis, waffle and arguments as usual, with the three most relevant ones linked below in posting order

https://hotcopper.com.au/posts/63656642/single

https://hotcopper.com.au/posts/63725748/single

https://hotcopper.com.au/posts/63772851/single

Biggest issue I had was the outrageously high product pricing assumptions, a commodity controlled and priced based on retail distribution access and pricing power, industry concentration where in the era of 'supply chain risk' it doesn;t make a lot of sense to add more global supply concentration to WA (esp for China), and finally that the existing players in WA have many years of garnet supply in hand. HVY holding one small lease along a demonstrated trend of high quality, high tonnage garnet sands... I could be wrong, stock isn't highly priced, good enough 'asset' to support CR's and salaries for many years to come I'm sure.

GLTAH