Mmm. It’s not so clear cut perhaps. There are plenty of companies that have decent valuations pre PFS. Also some of these already brought on big investors (Snowline is an example and they don’t even have a MRE yet). The new NVA MRE may provide a boost, and also the US listing. With gold staying steady above 2K and rates about to steadily go down, I think a rerate is possible before PFS.
But yes it could go sideways too
General Chat, page-7282
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