But on what basis will this set INR back? The plant was already going to be listed as endangered.
This will either speed up the process of which this is determined or the path will remain the same.
Tiehms was already flagged by environmentalists years ago that it should be listed. But departments have taken years and years and even now still havent made that decision.
As I previously mentioned BLM issue permits regularly for moving plants its quite a common occurrence as per previous documents I have read. Regardless of if its endangered or not.
So I fail to see any announcement stipulating it being listed as endangered having any significant impact on share price. As management have said all along the plant isnt a “material” item with regards to getting the project of the ground.
Sure permitting is important and any delays wont help but management have always been aware of the plant and have in previous announcements stated that not one plant has been harmed through DFS.
Sure the market could get farm worse in coming months as is the global market sentiment at present with COVID, elections, Sept/Oct been historically a bad period for share trading.
But ultimately its about investment strategy and how we perceive the stock to go during the period of ownership.
As I plan on holding this for 5 plus years. I fail to see a pandemic or global recession stopping this long term. We have had each of the above before during human history and always came back. So to me I dont care about them.
Permitting will have some bearing on if this stock can be a success but not all. But I just cant see them leaving this resource in the ground.
The stock has been at 50c before I predict the project to be up and running just as the lithium market turns, you will be looking at a strong run up at to a $1.00 at that point.
IMO As always...
INR Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
(20min delay)