ok, have I got this right?
Court case success, and the sp rockets and more drilling results released.
Court case fail, the sp drops.
But - if it fails they still have other promising tenements in Sweden, and a confirmed one next door to the problem one in Portugal. They have a market cap of about $25m, but $17m in the bank. So in theory their share price shouldn't fall too much, as there is cash backing.
Now the markets (and me) hate uncertainty, which is what we have here. But if they fail to get the tenement, the sp will drop - but then the uncertainty and the fear of a drop will be gone. Then the market will see a company with two good tenements and $17m in the bank!
cheers
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