time to take a look, page-23

DB

It is turning into quite the trading stock now though that they have exited

We had the initial spike from 16-29c, the retrace and then spike from 21-27c and now back to 23c

I'm thinking excellent buying opportunity if it happens to drop back to the previous CR price of 21c, but thinking unlikely

If you consider the projected cashflows on their first mine are 750k-1.5Mt p/a at margins of conservatively $20/t then that is net cash of $15-30M or more than the current cap. With capex requirements of only $12M, this would be a less than 1 year payback period on the first mine and would go a long way to organically funding the additional developments

IMO the larger players are already set at 16, 25 and 21c (being the largest moves off market) and are now awaiting final financing approval on the $12M + outcome of trial mining

Once we have both of those then 30-50c comes into play and becomes realistic IMO