Zn price soaring, page-43

No problem, first off its quality, not quantity. And Arizona seems to be finding both, and a lot of it which the market is valuing, not to mention S32.

https://www.arizonamining.com/_resources/presentations/Arizona-Mining-Corporate-Presentation.pdf

 Potential strike length of over 1 mile ‒ recent drill results include: ‒ 61 feet assaying 30.3% combined Zn/Pb and 9.8 opt Ag (HDS-435)
45.5 feet assaying 23.8% combined Zn/Pb and 4.8 opt silver (HDS-450)
67 feet assaying 38.6% combined Zn/Pb and 7.5 opt silver (HDS-446)
37 feet assaying 26.4% combined Zn/Pb and 10.2 opt silver (HDS-452) ‒
8.5 feet assaying 36.1% combined Zn/Pb and 20.3 opt silver (HDS-436) ‒
27 feet assaying 38.1% combined Zn/Pb and 9.5 opt silver (HDS-453)

The above is unmatched by IBG and any other stock on the asx. Some holes are starting or have reached Cannington type grades (key in S32 takeover or larger JV next 12 months). These zones are still being drilled and yet to fully make it into the mine plan. So your looking at possible top 5 mine not only in zinc but lead and silver as well.....Again, no takers on the asx. Costs will easily be first qtr and high silver and lead prices could push all in zinc cash costs negative. Payback under 2 years, possibly less than one. There are no peers on the asx. On current numbers i can not reconcile how IBG would ever trade as high as Arizona.

My sentiment is Buy on IBG and I've posted before it can get to $200M cap with higher zinc prices, so there is your multiple. Hardly negative. I just don't believe the zinc cycle will be strong and long enough for IBG to build and payback capex so not that interested in the resource. Happy to be wrong. Ditto MCT.