For me BSM is the most comparable, similar management sentiment, similar sp history, similar dilution, pigs in trough, that sought of thing. They even have a resident blister, youll know who i mean if you read the thread, every company has to have a staff member on hot copper eyyy....just joking blister
If you look at where BSM is right now, i would think G2 production sales is worth 65-75 million floor with a possible peak close to $100 million MC before retrace.
BSM are yet to prove commissioning with any sales as far as I know and are eeringly similarly poised as ANW, although Im in favour of ANWs assets, while BSM assets have more current flavour. With BSM trading close to $100 mil MC and consolidating currently around the $70-75 million. Had similar steps so far too....was lingering at 1-1.3c....spiked to mid 2s and settled at resistance around 1.7c before trading back into low 2s and everytime investors got a wiff it would bounce to 2.4c resistance and back again. In the end it traded up into the 3s in anticipation and only consolidated after commissioning .
I think the only reason we havent moved of the 1.6-1.7c yet, is time of year. Come early july, announncement or not retailers will start placing bets on G2 and i expect a revisit to low 2s before the drive into the mid 3s again prior to recommencing production...the difference is once we do restart im looking for a 3rd wave from early 3s to close to 5c, im sure thats what the BSMers are hoping for right now, production and sales to drive them past $100mil mc.....one glaringly obvious thing is they are in Madagascar, we are just down the road and also get paid at mine gate. We have a sales agreement for ALL our tin they have an offtake for half their graphite, BSM ramp up to 20k tonnes equivilent is to me similar to G2 plus T1....I would take our operations any day of the week....in fact thats exactly what im doing! Just roughly comparing of course.
But no matter how you compare $30 mill MC offers a strong 6-1 risk reward with $90 million MC target and a $20 million MC risk (1-1.1c)
When you consider that 1c would actually put this into the teens, it makes 1.6c look like great risk reward investing imo.
All imo
ANW Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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