RE: Fully funded lets go23 Dec 2025 08:52
@PuzzledPete lassonde is simply a function of timing wrt investment and value.
As in, the closer it gets to production cash flow, the more attractive it is to hold, and the more people want in, but have to pay ever higher prices, up to a value that represents a good return based on current and future company prospects.
Pre-production sweet spot investing focuses on post-funding and riding this rise up to production as it’s a well known trajectory and gives the best risk adjusted return, especially important for large sums of money.
As the mc expands, funds and indexes start to include shares in their portfolios, some of which are obliged to buy like junior mining indexes. Much more of this happens following a transition to the main market which is on the cards and all part of the curve….