Ann: Rafaella Completes oversubscribed $4.25m Private Placement, page-23

I'm part of the team, will write some footnotes tonight but just an initial stake here as fits most of my requirement.

Near term production create short term valuation upside.
CR recently completed.
Low capex hurdle rate for production
Upside to NPV/revenue through resource expansion.
Bugger all HC traffic
Low EV
500% ROI in shortish term time frame
Solid top 20.

Then it has a secondary value creation via exploration where results look good.
Tungsten is a good sector and Tin also a critical material. Expect these 2 to be at the forefront over the next couple years so expect revenue streams will flex.

NPAT is 40M across 5 years so 8M annually. Not a bank breaker but PE of 10 mean 80M MC potential IMO.
DFS with resource upgrade should extend LOM easily and hopefully further robust economics but still see short term upside and any stock you can get into cash flow positive in the short term is usually sure bet.

Possible 5 times upside on the one the santa comba project. more upside pending exploration on the other.

*sentiment buy reflecting actions today.

SF2TH