peers - lets look at Australian emerging gold development plays:
MYG 20m
GOR 23m
PXG 37m - has cashflow from stockpiles and pits
TAM 43m
ABU . . . 82m!!!
Even with successful trial mining, which will deliver cashflow, dont expect any re-rating in this market.
PXG is a great example to compare with - it has cashflow, substantial drilling and feasibility studies in the goldfields no less. MC is still only 37m.
ann: trial mining update, page-25
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