I suspect the market is still leery of CRB - final approval...

I suspect the market is still leery of CRB - final approval required (what extra requests/demands will the Qld govt make?); finance to be obtained (what finance/equity mix? What dilution?) plant to be built, complicated process schedule to be commenced and proved up. Anyone who invested in PGI will know that Sh%t happens and often!

Then the market looks at the proven producers of today and balances its risk accordingly. If you think Au is on a tear, and it certainly appears that way, why punt when you can have some safety and certainty with an EVN or NST or similar?

We aren't out of the woods yet, but we can see the grassy plains...and that's something we couldn't do when the market was enamoured with CRB at a SP of 20c! A strange and quirky beast is Mr Market. Maybe we are still regurgitating disenchanted and tired sop investors who bought in at that 20c mark.

The market just needs confidence to step back into CRB and then it will blaze like dry kindling. I believe it will, but WHEN is the issue.