RE:QuestionGiven the commodity market in general is soft; I am not really that surprised that the stock price has not popped with the JVSA announcement.
The JVSA is a positive step in the right direction. It is signicant because it lays the foundation for the various scenarios that may unfold: a buyout, bringing in partners, mining/dividend terms etc. Without the JVSA, Reservoir Minerals' hands were tied. The terms in the JVSA regarding drilling reports, I hope, will prompt Freeport to release their findings with a more reasonable timeline.
Technically, the stock price is still at a trading range. I would expect that institution buyers would not think of coming in until the 'golden cross' appears.
In the meantime, we have to live with selling from those who may need some cash for whatever reasons.
With the JVSA completed, my wishing thinking is that management has a plan or the next steps in mind which will help the stock price.