While this was great news, there wasn’t much movement when announced. The last 3 days were the first in a long time where the SP wasn’t pushed back in after hrs auction.
I think there was multiple reasons our price has finally risen.
- whoever has been slowly accumulating has got their fill. Until the next one comes along and manipulates it for a while.
- financing the project is I believe the biggest hurdle in most people’s eyes (not mine, I think our goals are definitely achievable & will only get easier once final design, processes, production rates, end grade confirmation & remaining resource is JORC compliant). The appointment/announcement of Sam Chee is a monumental step forward to achieving this. People with his experience & his field don’t accept positions that are detrimental or untenable. You don’t achieve your goal ie gaining the finance or assisting, EVERYONE will know about it, if he does EVERYONE will know & want HIM for their team! Is it a done deal...... heck no, but gets better by the day!
- people are waking up to the fact that high grade I/O is the way of the future & we have a gargantuan deposit. - countries are finally realising they need to decouple themselves from China & become self sufficient again. Our government has recently been sprouting self reliance & new environmentally friendly steel works.
- I/O price has made a slight recovery, although I personally think this is less of a factor for us atm.
Drilling results aren’t due until Q1 next yr I think but that isn’t to say that loose lips haven’t been flapping at the local pub!!!
I believe once further results are in we will see a price shake up & at the smallest sniff of either an off take or a semblance of finance it’ll be anyone’s guess where the SP lands.
DYOR, IMO, GLTASH, NFA
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