1,176,000t of copper sold for upwards of $405m is $344.4 per tonne.
Nifty has proven ~1,000,000t tonnes. Maroochydore has proven 486,000t tonnes. Nanadie Well + Hollandaire has proven 203,006t tonnes.
In total - this is 1,689,006 tonnes. Which, if valued by the same metrics, should be worth upwards of $581,694,000.
This is with zero exploration upside at those two largely unexplored sites. And these unexplored sites are anywhere from 600m to over a kilometre long. If all three turned into million tonne deposits, we're looking at a $1.033b exploration value alone.
Now when you add the existing site infrastructure into the mix (valued between $300m to $400m), as well as the proven Gold, Silver and Cobalt - there's an easy case to be made that the market cap should reflect approximately $1.5 billion dollars with a little bit of further exploration.
CYM Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
