BML Chart, page-2062

I did this is October 2022, based on the research of Rawson Lewis in July 2021 - see here https://boabmetals.com/wp-content/uploads/2023/02/20210713_Rawson-Lewis_Market-is-missing-impact-of-rising-lead-prices.pdf

It tells me that of the 4 lead developers Rawson Lewis compared, BML had the most leverage to the price of lead at 35.46 times, compared to the average of 7.25 times.

Note that the lead reserves only refers to those in the Sorby Hills mining plan, so Manbarrum is excluded.

I have added two columns at the end of the table that show how much you pay for Pb when you purchase the shares in the company at the price shown. Note that this was done in October 2022 so share prices and cash/debt holdings have changed, but the relativities between the companies would be similar.

How to read the last columns on the table? If you paid 19c per share for BML, you are paying 3c per pound of lead or $62.18 per tonne. (Note that no value is included for silver). Compare that to the prices for the other developers.

BML is very interesting indeed. It provides good leverage to both the Pb price and the Ag price.