In short, I'm saying it's much more marginal than the market was...

In short, I'm saying it's much more marginal than the market was led to believe from the Feb 2022 DFS update. The only way to counter rising costs (capex and opex) is to keep raising revenue assumptions, which they officially did today. Price forecasts are in the eye of the beholder, as is 'value' and whether it's a buy or sell. My suspicion is the smart money and leaks have priced in the opex increase and required higher prices over the last 12 months. Sell the rumour, buy the fact, maybe it's already hit bottom? Personally I don't like it, but some big hitters do so who knows...

GLTAH