Looking at the company in detail I cannot see why the SP is going up at all. They don't have much money in the bank, only 627.5 mt is JORC Indicted the rest is inferred. To convert that to a measured reserve, needed for a mining application will cost millions in drilling, assay and modelling.
What concerns the most is where the Blackall project is. way off the beaten track for infrastructure and transport to port. They only have an MDL and a few EPCs so not a superstar in my book.
EER Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
