Post by
horsewithnoname on Oct 13, 2024 12:38pm
What is missing - good question
I 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
Comment by
CDN100 on Oct 14, 2024 9:35am
Thank you, that is an interesting point of view. I have been thinking that Fortescue will not make an offer until the results from this round of drilling are known. At this point abou half of the resource is drilled, measured and known. My next thought was, surely Fortescure would want to then know they can get the permits required to start mining before making an offer.