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Ann: Sorby Hills PFS Delivers Outstanding Results, page-47

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Ras2

680 Posts.

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25/08/20

12:03

Post #: 46795861
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Originally posted by Verily1: ↑

@Ras2
Initial run through tells me the quality of the work and the estimates have materially de-risked this project and financiers will love it.

This includes importantly a Maiden Ore Reserve, including 490kt Pb and 18M Oz Ag, which essentially tells the financiers that this amount of the resource is proven and bankable. The way I read this is that the bulk of the material to be mined is in this category....this is very impressive. Few developers in this space can provide that level of confidence.
The initial Life of Mine has been extended by 2 years, the amount of Pb and Ag being produced has increased and importantly the metrics provide excellent exposure to the Bull Market in base metals and Ag that has just started. All things financiers will like.

Operating revenues and costs are within expectations. The capital costs have increased, but this has provided a very firm foundation for the financiers and ensures that maximum benefit can be taken of the results of the substantial exploration upside.

Below are my figures for the correlation of the OPFS to the current share price and there remains a material gap between the current market cap of $72.2 M and my estimate of the value of the Sorby Hills project of $202M or 0.07 Cents per share.
I have also graphed the impact of a 20% increase in the price of Pb and a movement of the Ag price to US$60 Oz based on the sensitivity analysis in Figure A-14 -

V

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Thank you, great review/analysis of the results

PMY Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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(20min delay)
Last 11.5¢		Change -0.005(4.17%)		Mkt cap ! $26.84M

Open	High	Low	Value	Volume
11.5¢	12.0¢	11.5¢	$112.7K	961.6K

Buyers (Bids)

No.	Vol.	Price($)
3	229873	11.5¢

Sellers (Offers)

Price($)	Vol.	No.
12.0¢	120121	2

View Market Depth

No.	Vol.	Price($)
3	229873	0.115
1	11000	0.110
2	6625	0.105
5	210500	0.100
1	6000	0.093

Price($)	Vol.	No.
0.120	120121	2
0.125	331422	4
0.130	323454	3
0.135	74977	2
0.140	324135	1

Last trade - 16.10pm 27/09/2024 (20 minute delay)

BML (ASX) Chart

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Ann: Sorby Hills PFS Delivers Outstanding Results, page-47

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