I couldn't disagree more. A sp can easily go up a long way in anticipation of positive news and we are getting close to the release of what will be a very positive DFS which without doubt will be updated using much higher MAP price assumptions than those used in the scoping study. Just look at 88E which has more than doubled in a month to a mc of over $700 million just in anticipation of a positive drill result from its current drill hole. That's despite the last hole disappointing badly. Our DFS won't disappoint.
MNB could also continue much higher just to catch up to the moves higher in fertiliser prices. Gold juniors, even explorers with no resource regularly follow the gold price up or down. Fertiliser prices have only been going up for two years. MNB has a lot of catch up to do there even without news. It's not just gold stocks. Lithium junior stocks are another example of stocks that recently skyrocketed without needing news by following the lithium price. They also went much higher simply because the sector became very popular with investors. There is a third way that MNB can continue much higher without company news. Fertiliser shortages gaining more media attention and investors beginning to look for fertiliser stocks the way they did lithium. LCK recently jumped from 11c to 19c on the back of urea prices but the largest part of the move was thanks to the media hype about ad blue shortages. LCK mentioned that they could produce ad blue from their urea - but that would be years away when there probably won't be any ad blue shortage - and ad blue would only be a tiny part of it's revenue. Don't underestimate the power of the media or the ability of investors to drive up a sp on any sort of sector buying.
Any of these could see the MNB sp go much higher especially if any new investors read the scoping study and see how many multiples of upside are on offer even with much lower MAP prices.
As for needing news, there will be no shortage of news this year. That's for sure with the phosphate project commissioning in less than a year probably providing regular progress reports throughout this year, negotiations underway on the green ammonia pricing (as if 1.5c per kW wasn't cheap enough already!), finding out if the government approves the doubling of power allocation for the ammonia, economic study results for the ammonia project also due over coming months, results from the latest phosphate bulk sample tests and more details on other projects like the carbon in soil.
If you want news flow and a stock that can have many multiples of upside in under a year (backed by the phosphate project alone), I don't know of a better stock to be in this year. 7 to 8 fold upside in a year looks easily justifiable.
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7.1¢ |
Change
-0.001(1.39%) |
Mkt cap ! $62.38M |
Open | High | Low | Value | Volume |
7.2¢ | 7.2¢ | 7.1¢ | $19.45K | 271.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 20686 | 7.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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7.3¢ | 349688 | 2 |
View Market Depth
No. | Vol. | Price($) |
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2 | 8128 | 0.073 |
1 | 12000 | 0.072 |
2 | 9971 | 0.071 |
5 | 152150 | 0.070 |
4 | 151667 | 0.069 |
Price($) | Vol. | No. |
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0.073 | 326188 | 1 |
0.074 | 140772 | 2 |
0.075 | 250000 | 1 |
0.077 | 84341 | 2 |
0.079 | 100000 | 1 |
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