If it dips under 1c I will be buying viciously. We're currently trading at 1.1-1.0c ex-rights - fully diluted 1.0c gives us a MC about $10m. I've been screaming the peer comparison for days! I even think ADN's ground is better than EYM's.
The main reason for ADN being held back IMO is management's relatively conservative approach. I can understand it, management is looking after the company's long-term interests rather than orchestrating a pump. When the market catches on as the Pilbara story becomes even more developed I think we can expect even higher prices than 5.6c.
That's a bullish scenario. In these markets, all boats will rise, but I see the most value in ADN.
IMO though, IPT is a different class; in the same area as KAI, I think it'll rerate sooner. These southern Pilbara plays will take a little longer to wind up (though EYM is proving that wrong).
peer comparison, page-3
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