Been buying in here over the past few sessions, I already hold MTR, which is a cheap way to own these, but thought I should get some direct exposure aswell, I calculate the project NPV is already north of 500m usd based on what we already know, plus there is huge upside from the drilling going on at the moment, I suspect that if they can get the current 2.5m plant built ( which is a done deal given current project IRR of around 50%) then they should easily be able to find enough copper in the next 2 years to launch another plant which should be fundable from the first plants cashflow, that would then have an NPV of north of 1bn usd. The upside from T-Rex could be staggering, so we have a very safe project with large profits baked in, plus a potential monster in the making .....
MOD Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
