I'd never have guessed a $4 price 2 weeks from a decisionThe question is why?
I think the answer is that literally nobody, or at the most, very few know about the Morrison project, except shareholders from years ago. Journalists and industry people that did follow us, have long forgotten us.
My best guess is that we will get the permit this time around. Once we receive the Minister's approval, literally overnight the industry will find out as a result of the internet mining news sites.
That said, I don't agree that the mine needs to be sold before we can start to cash in. With approval my guess is that $30 to $50 per share within a month or maybe two is very likely.
It doesn't take a genius to plug a few numbers in the old working model to come up with a $200 value per share. And when the 100s of millions (400 million?) of pounds of copper from the low-grade ore is added, I expect to see a value of more than $200 per share.
Add to the fact that we are a Canadian mine with a town (Granisle) electrical, LNG and road infrastructure nearby, then if there was ever a case for a mine to sell for a premium, this would be it.
I am puzzled by the $4 share price, however I am not discouraged.