Start your engines........

Well here we are folks - less than a month away from our initial MRE.
What would you expect the price action to be?
I note that the cascade of retail selling seems to have dried up - or is starting to dry up.
Anyone interesting in the potential for a multi-million Oz initial MRE should be bedding down any loose stock at these prices.
The Top 20 shareholders are all sitting tight and exercising patience - as you'd expect.
Any newcomers wanting volume may find themselves chasing their tails very soon.
The company has hinted at its hopes for new discoveries this calendar year and we are only six weeks away from Christmas.
With circa $16m in the bank (including shares in Copper Stone) - there is no expectation of a cap raise any time soon.
If we have a market cap of $86m and after deducting cash, we have intrinsic worth of our assets of $70m.
On a conservative guesstimate of say 2 million Oz initial MRE, this translates to $35 per Oz of resources.
If we could anticipate that the management will get that to say 5 million Oz within say 12 months, the valuation is only $14 per Oz of resources.
You can do the sums if they can grow group resources to perhaps 10 million oz by the end of 2023.
STM is a multi-bagger pending a significant announcement.
The upside potential at each of Alba/Brama and El Palmar are significant.
What we don't know is when a Major will come knocking on the door.
It is pretty obvious that we don't want that just yet - well I sure don't!
However, it is also obvious that the big boys only start to take you seriously when there is a JORC resource.
We are getting close to that point, so start your engines!
DDD