7c-7.7c today brought out some sellers but there have to be...

7c-7.7c today brought out some sellers but there have to be sellers as well as buyers in any market. Those sellers may be a few profit takers from the 5-6c accumulation zone and maybe a few leftover cr participant sellers - it doesn't matter, there will always be sellers. All that matters is that the sp is trending up again.





Up 43% in three weeks but in the big picture (chart below) this new uptrend is only just getting started. A couple more days above 7c to confirm the uptrend and build confidence. We had a clear double bottom at 4.9c. As long as funding is completed, the 21c high should be retested as the company progresses to production and first profits. I'm not plucking that number from thin air.
At 7c, the mc will be $76mill after the Sov fund equity injection at 8c.
At 21c, the fully diluted market cap would be A$259mill and that's assuming all options are also exercised.
That compares to a A$400mill after tax NPV at the current TSP price - and that's not allowing for capex savings, higher forecast production in years 1 to 7 and also not allowing for exports. I.e. 21c is easily achievable and realistic towards production and a 21c sp still leaves the mc at a large discount to a conservative after tax NPV.
If all options are exercised, that would add A$13mill cash to the bank balance.

Then the green ammonia offers more upside potential.