Ann: High Grade Results Continue at Penny North, page-52

I was thinking about the potential resource here last night and was mulling over the current valuation, pre-diamond drilling and pre-maiden resource. There is still plenty of work to do.
I am relatively comfortable with the grade and volumes already defined to have a +/- 20% inferred LEZOK compliant resource already on the back of my envelope. Then you look at the current share price and some will say - well overcooked and others will think BARGAIN!
So have a look at this equivalency spreadsheet doodle from last night. What IF they were drilling the exact same "lode" volumetrically but it was nickel sulphides!
In my book it would be something like this:


So they may have a fifth of a Nova metal wise that will need about a 5% of the capital to develop........

Total tangential brain fart so do your own sums but in my view way undervalued