Black Range's 91 million pounds of uranium still trades at a 60% discount to peers. The peer average [EV/Pound] ratio is less than half of what it was nine months ago.....
If Black Range's EV/Pound ratio were to double to 0.44 from 0.22 and the average peer valuation were to increase by 50%, (thereby closeing the unwarranted gap somewhat) then the discount to the peer average would fall to (0.44/0.83)-1 = 47%.
A doubling of the EV/Pound ratio for Black Range would = a doubling of the share price from 1.2 cents to 2.4 cents. Investors would STILL be getting the 50/50 BLR/Ablation JV for free!
Recall from prior posts that I've made that I believe BLR's 50% JV interest could be worth more than $100 million, albeit probably in 2 years. Assuming a lesser $50 million, that alone is 3 cents per BLR share, (assumes 1.72b shares)