In about June 2020 when CHN was a $300m company and palladium was $US3000 an ounce they released a set of stunning drilling results and the shares got sold off to an intraday low of 88c and I was like wtf!? Anhyoo….after it put on ten bags and palladium was still at stratospheric levels I was convinced the sell off that day was a tree shake. In hindsight it may have been an investor with a better understanding of geology than most in the market or it was just a tree shake and it’s really just the price of PGEs, recoveries and cost of capital that changed…,,either way the risk appetite for super risky assets is a lot lower in 2023 than it was at the top of the market in 2021……
Ann: West Arunta Project - Luni Assay Results, page-160
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