Blythefan,
the State One research is a joke. Some assumptions are insane
- 100% equity is BS (I was told 50:50 debt/equity)
- cost escalation but no revenue escalation is nonsense
- cap raising at 1.00$ while NPV is just at .97$
- peer group comparism quite brief
- sp target 33% below former target without explanation
However - 1$ should be a reasonable intermediate target. Next steps will be
- farm-out of Argentinean assets (quite a nice package)
- re-commencement of drilling in Livingstonia
- scoping and then PFS focussing on recoveries, process route optimization and marketing (target = off-take agreement)
- placement not before year end
Cheers
Lenni
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