I agree that the sp will probably drift lower for a while but once the permit is announced and the construction starts this will jump back up above $4.
Alot of big money moved into this stock in Nov and Dec and they will stay parked here for a while. We are seeing drift from the dilution (that we knew about from the S3) and also seeing some of the late money (smaller retail) getting scared out.
I've been in this stock since the ORRP days and am always amazed at how slow they move. Add 3-9 months to any date they've announced.
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