up 42% in 2 days. market rerating commencing., page-2

Think you might be right and it appears promotion of the stock has improved significantly. New Chair is ex Chair of AMX as I understand it.

Some thoughts I had today. On today's closing (A$0.37) market cap is A$69.9M giving an EV/Oz of A$64/Oz (ie, cash on hand = A$7M).

GRY, at today's closing, has an EV/Oz of A$81/Oz ((A$114M - A$25M)/ 1.1 = 81).

If we are to match GRY anytime soon - the JORCs presently are the same - this would imply an enterprise value of A$89.1M and a SP of A$0.47.

You would expect that the AZM project is at least the equal of the GRY project and that it could get to 1.5M Oz by the end of the current drilling programme.

If we were to work on today's EV/Oz closing this would imply an enterprise value of A$96M and a SP of A$0.51.

If we were to achieve EV/Oz parity with GRY and assume a resource upgrade to 1.5M Oz this would imply an enterprise value of A$121.5M and a SP of A$0.64.

You would hope that the A$0.51 would be achievable by year end at the least: and hopefully A$0.64. Again assuming no major market turbulence in the interim.

The above said, the markets are like an educated two-up ring. Anything can happen: good or bad.

I really like this stock and the upside that it's so far delivered. Great to see new highs.