4tkids,
Do you reckon?
I am not bothered, let them, I'd like to lighten 10% but no hurry and not doing it at a 2 handle. This is a growth stock.
Try adding the tangible parts:
Nickel: say A$2/lb, 11 mmlb pa payable, 8 year multiple, 30% tax. A$123mm
Gold: A$50/oz (only 3.3% of IGV) A$75mm
Cash: A133mm
Total: A331 mm, A$2.93 ps VERY CONSERVATIVELY (imho).
More realistically I'd give A$3/lb Ni (cash costs alone nearly A$2/lb better than MCR). Gold can only grow from here as we move to BFS and prove up another mm Oz.
In this market, patience I guess. Tempted to add a few for a short/med term trade.
EL
today a nickel stock, page-8
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