Might be too late in the day for me but I thought it was based on the worth of proven copper and gold currently in the ground less construction and operation costs in extracting the deposits which results in a Net Present Value of 82c per share (a very simple high level view
The only reason why the SP hasn't increased is becasue it is still a very big ask to get that sort of financing in the current credit market and investors know it!!
But if they do secure financing.........I'll be retiring
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