I really just think we’re going to keep trading at these levels...

I really just think we’re going to keep trading at these levels until the SPP finalises and the general meeting occurs end of June.

I still think some shareholders have been selling to participate in the SPP. A Morgans employee at the AGM ( who is also a T20 ) had the same view when DF asked him for an opinion.

We are then waiting for 334,141,821 unlisted 10c options to expire 31 July. I doubt we’ll see substantial news ( other than quarterlies ) and results of SPP before end of July.

As for news:

We are expecting Balama DFS in Q3. This will factor in the 50% grade increase and we should theoretically see improvement in production output, opex and margins. I’ve got my thoughts on numbers.

We are waiting on drill results for Montepuez and a resource update. We could see a grade increase like we saw at Balama ( this would be fabulous news for economics and hence margins ).

We are waiting for results on Vanadium test work.