I don't think Euroz played into it at all. As I have said, I...

I don't think Euroz played into it at all. As I have said, I haven't seen the Euroz report, the last one I have is 9th Dec, S/P $1.37, price target increase from $1.08 to $1.75
- remains contingent on the success of beneficating the ore to a concentrate grading at 33%
- retain the price deck equivalent to PFS - 15%
- first production remains a key catalyst

S/P subsequently goes up to mid to high $2,s, you remove the Spec Buy because it is now way above your price target.
Have you seen at that time any of the above catalysts that would enable a re-rating.
No. price target still the same, reduce recommendation due to price change, NOT valuation change, because they won't have changed that, YET.
We now know production is happening as I type, but we havnt seen it heading to port yet.
Its early days still.
We now know that the price they should receive based on right here right now will be in excess of PFS.
The rest we still wait for.
As we were told last week, they are still ramping up , fine tuning processes, and will most likely still be doing it until at the end of the quarter.
Important to get this bit right because they then have to turn around and triple production.

Better to take a few extra weeks now and have the processes sorted than have 3 times the problems further down the track, IMO.