I've never understood this 'priced in' argument with share prices, it sounds like expertise in hindsight. What was 'priced in' when the SP was at 9 cents?
The share price was double what it is now when the application went in, so if it's approval has been 'priced in' then they're arguing that the value of a mining lease is a reduction of at least half the value of the company. Makes zero sense to me. I'd say it's more a case of global uncertainty and most non revenue producing companies being hammered in favour of safer havens. This lease is major derisking event, so it can only be positive to me.
Mining Licence Active, page-22
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