Not much is going to happen until Vale commits, which is a couple of months away. I doubt if they will commit early. Everything is a time game. They have any other suitors at bay with the exclusivity agreement. Vale have been about for most of the year. They had to have been consulted re pelletizing. They have only signed the MOU to keep the resource away from their competitors. Nothing will happen over winter on site. The lab work will tick along. Why pay up early? It is also Christmas. Punters have other things on their plates. The only other thing that will happen is the current accumulator will have to report reaching a 5% holding threshold. Depending upon who that is will bring about fireworks. It could be Gina or Twiggy.
As to a good price target. I am looking at $2. That is the minimum of how much I think that it is worth.
CLE Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
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