Indophil needs to de-risk the project ... maybe SMI have finally realised this and now understand they need to get on top of stakeholder management (my understanding is they have been very slow and very ordinary to date - unless they are in front of me thinking the same as SMC, ie: push the price of the IRN stock down for low ball bide from their parent, RIO)????
The hedge funds are still selling it off (I reckon they will be out just at the wrong time - LOL, sure hope so)- I reckon they are in the last quarter of their holdings, so weakness may persist a little longer. Good news is there are multiple accumulators from what I can deduce on the screens.
Phil
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