Not sure what your charts are telling you but I'll give you a iron clad fundamental. You can't make money out of an open pit mine with a grade of 1.7 g/t unless you are talking about a large scale mine operation with many millions of tonnes.
The gold price legging up towards $1,000 should do the trick but you will need to be in a position to go into production at that time.
The other option is if they get serious about exploration and find allot more resource. A hell of allot more.
Martis, lend us your expertise and give us some examples of similar size resources at this grade being successfully mined and produced.
Can't see anything to justy an upward re-rating. That doesn't mean the punters wont give it another run if that's what appeals to them but it wont be off the back of a significant increase in the resource or grade.
The directors lack of detail at the AGM said it all. If you get down to facts and figures, it doesn't gel. Best to keep that off the table and give out motherhood statement.
If it was grading say 5 g/t, you would have had numbers (estimates at least) offered up to shareholders.
Its a bit unfortunate having all that gold under foot but not economic to get out of the ground. There are a few of those resources in Victoria.
My view is that gold will end up at $1,500-2,000 o/z and if Kal has done its feasibility and built its plant it may get to mine this deposit if their timing is spot on.
Time will tell
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