What is missing - good questionI would say buyers. There is very little trading even with news. Any larger buy orders would send share prices much higher. The question why nobody buys ( and also nobody sells) is more complex - I think there are two critical questions that need to be resolved - first, can ATCU deliver on the project und get the permits and start drilling or will there be again an strong resistance from the local community like in 2012. I think the way this addressed now is much more professional than in the years under Joan Freeze. Second, how much will Fortescue want the project to derisk and through PP increase their share at a lower price. So far they have played it very well by being a little better than the alternative funding options, while at the same time being a reason why there are limited alternative funding opportunities.
Personally I think we all can define the next funding price - I am sure Fortescue will go above the market price and the market price will be defined by a few100000 shares or a little more . GLTA