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I think that perhaps a lot of mum and dad investors are a bit nervous about the markets at the moment, in which case the spike will not be as dramatic as the last spike from 5c to 12c.
Also keep in mind that there was a share promotion current during that last big move and those promoters and their followers move on. Most of them have moved on to gold and silver.
ORD mangement have stated that the IPO will be delayed... so take a punt on the ST move. Do you whack a heap of cash in today at the current price and bet on a 90-100% return on the JORC upgrade spike and make sure your near a terminal on the day to get your cash or do you hold and wait LT?
Plenty of ways to play this game, just got to beat the better players.