Seems a reasonable proposition from here in my opinion but lots of unknowns.
The boss is saying there is nothing stopping there being millions of ozs in this belt and if this turns out to be true and they can add another 100,000 tonne capacity to the plant and possibly a cyanide circuit the price at the moment will look cheap.
I don't think this stock will quickly set the market on fire though because investors will need patience and the lack of transparency on JORC and grade will scare off most institutional investors who won't be able to justify the risk inherent in not being able to quantify resources/reserves and hence valuation. If it works a long term holder is going to be very well rewarded. Perfect stock for a the retail investor who isn't bound by any rules, is willing to take on a little development risk and has time on their side. Also you have the Tinteiro IOCG prospect sitting there as a potential sleeper. I'm starting to accumulate a few but I don't see any hurry as there are probably going to be quite a few bumps along the road. They'll need a good 12 to 18 months to bed the mine down and build significant confidence in the plan IMO. Eshmun
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