One of those on my watchlist, WA1, is up more than eight fold in...

One of those on my watchlist, WA1, is up more than eight fold in a year. I didn't buy and missed those big gains despite reported high grades because it has a rare earths project and the ASX is full of rare earth companies that never get into production. Coincidentally, Minbos also had a rare earths project that it sold a few years ago to concentrate on its phosphate project and now green ammonia project. Rare earth projects have far higher capex needs and most wouldn't be able to compete against Chinese rare earth producers. Despite those hurdles, WA1 has reached a market cap of $1 billion from closer to $100mill around one year ago.
Some small cap stocks can have big moves when things fall into place.
Together with showing evidence of a $10mill working capital facility and signing the binding offtake agreement with Carrinho, Minbos needs a further US$7mill (after raising $A$6mill in this cr) to raise, as its preconditions to draw on the IDC loan.
They are not big hurdles and they should be much easier to overcome now that the IDC has approved its loan after its due diligence.
Finishing that finance is taking more time than we would like but when it happens it should see a much sharper turnaround from these depressed levels.
Some here are posting negative opinions on this company and project.
However, I'll take much more notice of the positive outcome of the extensive due diligence by the IDC committee that approved the US$14 mill loan.
That's far more relevant than opinions of posts on a forum.
DYOR and make your own decisions.