All good @arsenic , the guy below is who my nic is after. He had some excellent writings, (practical wisdom for perilous times) back in the day hence the spelling.
"Baltasar Gracián (born January 8, 1601, Belmonte de Calatayud, Spain—died December 6, 1658, Tarazona) was a philosopher and writer known asthe leading Spanish exponent of conceptism (conceptismo), a style of dealing with ideas that involves the use of terse and subtle displays of exaggerated wit."
that discount factor of 0.6x is just a general number used for jurisdictional risk of USA, very rough and ready. We are a few multiples short valuation wise, no matter how one looks at this.
It was more just to give an idea of how undervalued this really is.
Short term the market will do what it does and clearly someone is unhappy about today's announcement but as we know the value here is not reflected in the price for a near term Copper development play.
Nice work on RXM btw.
I imagine we will get something similar in due course, but I'd expect the price moves higher in accordance with the value here.
Like I said, now that the valuation document for the base case NWC is measured by is out, it needs to be promoted to those funds that understand the value here.
Add a few satellite deposits to bump the grade (Pinafore which already has a resource) and we get some nice torque to the upside in grade and definitely this is a leveraged play to the Cu price.
These gaps in the 2s to close and then we resume. I'd guess it'll take a few days for this to be digested by the money folks that will make a difference to the SP here.
PS thank you for the kind comments, but I'm just a squirrel trying to get a nut and having a punt.
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