Agree this should be higher - disagree on your top figure though.
Hillgrove bought for a song - under previous ownership well north of $200 mill spent. Now resource update and upgrade plus further news upcoming.
Thalanga - not certain how much has been spent under previous ownership but under current management development costs have been and continue to be incurred. The mill capacity is more than double to that at Hillgrove. More prospects. So what is it really worth??
Hence with a current MC of under $80mill and rising commodity prices, rising in ground inventory even with my mediocre mathematical prowess it would be hard to see how this will stay at these levels for long - an MC of $250mill+ is more like fair value - hence more like 45c+ per share.
Of course irrespective of how any of us value this, in the end the realism of market forces are still at play. When the market finally wakes, rerating to more realistic value levels should ensue. 12.5c will be a distant memory. No guarantees, but then, that's markets in general.
RVR Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
