Professional accumulation is what is happening.
They managed to get the volume & limit the SP rise to 3.4%
Big volumes and rising prices can be caused by several factors
1 A large buyer(s) accumulating a sizeable holding
This is the most common reason behind big rises (& big falls (selling))
This price action can be over in a day for smaller accumulation, or weeks if they are after a large holding
2 The market finally realising how undervalued we are
We have certainly fallen way behind our closest peer LTR on a % ownership to MC
3 A leak regarding an imminent announcement
I doubt the upcoming announcements of drill results would drive this action.
They have stated when they expect the Reserve & Resource upgrades
There isn't too much else, maybe stage 2 expansion, finance, stage 2 offtake?
Point 3 could also be a leak regarding the next point
4 Possible positioning for M&A action
There is certainly an uptick in this in the lithium sector
Could also be tied in with the FFX Leo holding
We do after all own one of the biggest hard rock deposits in the World, stage 2 offtake uncommitted.
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