I would say the market is pricing Advent at the the lower end of expected CR price .. circa $1.40 . The terms may turn out quite different to expectations . It does seem toppy but not many prepared to jump off tax free gains . Why would you pay that much for Advent when you can get BPH at 8c ? The answer is that buying say $12m worth of BPH would push the SP to extremes and it would entail too greater a percentage ownership . UM is quite right , the tightly held MMR will push some to look closely at others .
The real short term danger is the protest factor . There would be a lot of panickers if objections threaten to disrupt the project . For sure it is a risk but last minute protests will probably be uncoordinated . If there was going to be a big issue here it would have reared it head by now IMO . As Lefevre says , hold for the story and trade at your own risk .
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