RE: Mcap21 May 2025 13:48
Just mining/oil in general IMHO, we have had higher market cap in earlier stages. SP spikes on discovery and falls back, same on DFS, then on JV news, and building mine news.
The final and quite possibly the hardest stage is going into actual production without running into too many issues and running out of cash like prem, hummingbird, copl etc etc.
The 'sensible' big city money waits until there is actual production and confirmed stable sales before buying in as there is still risks right now. So we are in a lull awaiting the export licence and first sales. and many companies do not invest till market cap is over 100 mill. Just Like matd, deal and licences etc all in place - but no rise in price till the sales are actually confirmed and happening. Do a search on the Lassonde curve if you are not already aware of it.
Hopefully we will be in a much perkier position within the next 3 month.