We might be at a point of inflection, a change in sentiment if the golden cross comes to fruition.
Whilst it's extremely unfortunate CRL couldn't capitalize on the copper boom with the stall of Barraba/Gulf creek, it seems like we are coming on a flurry of news between the graphite --> lithium boom, and a gold price bounce.
Having hedged between multiple sectors will allow option whilst the operators continue to define which project will provide the best return value for themselves and the shareholders.
The last CR was indeed a strategic raise to counter fold two components
1) They knew the delay happening with Barraba as it was 8 months way past the timeline they initially promised. They had to hedge their bet with another acquisition whilst they work on existing portfolio (NT Copper)
2) Provide additional buffer gap in operating cost knowing full well the delays between Barraba, Mexico gold, and Graphite.
The terms of the CR was obviously beneficiary to the hedge funds which I knew a few that got their hands on. They were happy campers being able to flip a portion of it on the strength of the momentum that week, which made it all worst for other shareholders that were left out to dry at that time. I am sure I wasn't the only one upset with the developments up to them and seek clarity from management. It was clear they were issues with the native title and some transparency would have allowed a lot of question marks lifted but as it is now clarified, it's best to just look ahead and find an answer to obviously a promising land.
Regardless, we are reaching a stage where the macro is absolutely ripped, the project has reached a point of inflection. We just need the right push, and we will completely move past the basing between 1.8-2.1 and start forming higher base.