sentiment isn’t always dictated by the actual fundamentals. Often the narrative based on potential will determine thie sentiment and the money will flow from sector to sector, region to region. Wa1 is a billion dollar mc based on niobium. Hence west Arunta and niobium with high grade potential is where the money is flowing. enr today illustrated the sentiment. The REE. Spot prices are almost back to lows after a brief rally. MEI is testing their recent low at the 16.5 support whereas VMM is approaching their recent lows of the mid 90s. I believe money will flow into the sector in the 3rd quarter. Vmm has no issues with progress. The issue is sector sentiment exaggerated with no buying support due to the EOFY selling. We will get a better gauge in the 2nd week of July when buyers are expected to step up. REE prices are forecast to rise in the second half of the year.
VMM Price at posting:
$1.04 Sentiment: Buy Disclosure: Held
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