Pierre, azure is an underground deposit, raiden open pitable
Ie nice n shallow, so economics even though lower grade, not that much different.
Capex would also be much lower being shallower deposit.
I do believe Rdn will increase the grade.
Still 6m EV to 190m is a massive variance here.
If Rdn push the resource to 40m tonnes at 0.7% ni.
6m EV very undervalued in my books.
Im not looking at today's value, but 1 year away.
They tested just 6% and it's open.
Ann: Investor Presentation May 2023, page-18
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