As everyone knows, The market can be a harsh and unpredictable...

As everyone knows, The market can be a harsh and unpredictable mistress however just some of my thoughts on the why the SP shouldnt drop from here.

If you look at the timeline ahead - we have so many amazing news pieces coming out in the very near term, and as I think Novak said, this by the looks of it, is the most undervalued stock on the ASX considering what is going on.

To be a HIGH GRADE MANGANESE MINER BY JUNE will be a feat that I think by looking at the SP, the market thinks is too good to be true. But I believe and even the release of the grades (grab samples between 45% and 52%!!!) should get this bad boy running.

So yesterday morning the Rights Issue was announced.. Some impatient traders got out and fair enough, but the Sp got accumulated all the way back up and was even in the green for some of the day. Still a 20% premium to the offer price and an attractive offer at that!

So... Who would be selling from here with everything that is going on/ about to transpire?

Those who want in, have to buy onmarket, and even those who want part of the rights issue will also have to buy in building buying demand.

IMHO the SP should stay at a premium to the issue price, and with any news, should even break through the next barrier.

Who knows what happens, but thats how I see it.

Cheers