This collapse started after the announcement of the 35m net pay. The number 1 catalyst for a re-rating is going to be the drilling of the high-pressure section of the lower Angwa with a revised net pay and successful flow test. It seems to me that the main reason the PPSA is now so important is because the company is unwilling to flow test without it being signed.
On another note, I wouldn't be surprised if Zimbabwean investors (read: insiders) invested before the PPSA was announced, knowing that it would be soon announced after their investment was in place.
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