RE:RE:RE:RE:RE:Does anyone find it oddCITIC and ZIJIN are locked into percentage ownership with Robert Friedland (subject to revision as we've just seen, so really kind of meaningless) until around 2023 I think (maybe 2022). So that's I think why the share price is doomed to stay below 3.98, and why they'll buy it out in 2023 at 3.98 - price of the last financing. In the meantime they just need brokerage partners willing to sell it down to keep a lid on the price, and push it down which it seems they've pretty much worked out.
Most institutions that aren't already in don't want in - limited upside, with a couple of big foreign shareholders with no real interest in letting the price rise, and heading into a deflationary cycle that will keep a hard cap on copper and platinum prices.
So I bet probably retests 2.40 at least on this leg down. On the plus side, 2.40 back to 4.00 is a nice return even if the timeline to hit 4.00 is 3 or 4 years. 60% in 4 years is ok. Of course, it could trade back to 1.10 and that would probably get a lot of people to forget the 3.98 price and sell in despair, so I wouldn't be surprised if that's the longer term gameplan.