not overly invested in Bruce, i'm just doing the "value maths". We have 4 shots at goal with ASC, ASN, Muchae and Boyatup. Each is good for 20+ million annually, which would suggest there is a "bag " and a half in only one of them getting up from here, let alone all 4. Admittedly, they represent different timelines but the capex's are low and the SOI is small allowing for a minimal impact if they decide to do a CR or bring in another "corner stone" investor to fund the builds.
The margins are high and the mining process is simple which one would expect will limit potential commissioning problems. the product is in demand, both real and imagined in the case of domestic future glass/solar market. Shipping has completely normalised which was a risk i have kept an eye on.
All in all, imo we are at peak risk right now.... get to and through public consultation we should be golden. Even if the EPA puts controls that double CAPEX or some of the profit needs to go to some sort of monitoring program, it'll be of little consequence.
So when some crazy offers up shares at 13c, its just too tempting.
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