I have looked at it a few times. I think it will probably get bought out as a satellite to one of the nearby mills at some point. Lacks scale for standalone development.
I'd be interested to see what the reserve looks like when it comes out for the high grade area. They'll be high margin ounces but maybe only 150koz? Rest of resources only so-so. JV with EVN shows some promise.
I don't see the stock as particularly cheap. RMS takeover of Spectrum last year probably a bit of a benchmark.
I generally try not to buy companies where I think the only avenue to mining is via a takeover. I
Ann: Half Year Financial Report, page-23
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Last
$1.74 |
Change
-0.050(2.80%) |
Mkt cap ! $1.974B | |||
| Open | High | Low | Value | Volume |
| $1.74 | $1.76 | $1.71 | $7.908M | 4.574M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 118206 | $1.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.74 | 26920 | 2 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| WAF (ASX) Chart |