I viewed this company as being worth 4.5 cents per share before the recent drilling. It is easily worth that and now a bit more. The difference from previous long years is that Jon Dugdale is now the CEO and he is a top shelf geologist. If anyone can makes something of these very high quality copper-vanadium assets then Jon is as good as it gets.
We are now on a path to an open pit development with a very high grade copper vanadium lode at Nosib and also on the development path at Abenab and Khusib Springs. This is not greenfields exploration and does not have the high risk associated with that. This is just proving up known ore bodies, two previously mined and one previously developed but not mined (which I like at Nosib because the old miners did not take any of the high grade bits away, it is all still there!). Khusib Springs was a mine until 2003 (?) and has decline access meaning a restart is very cost effective.
No need for a cap raise until after the JORC resource is out and mining/metallurgical studies are complete. They will need money to commence mine development. The processing option of a central GED owned plant or toll treatment is still to be decided.
Enjoy the unlocking of the value of these high grade assets.
GED Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
