True, but the company really needs to offer the prospect of getting into production - either by itself or through a sale of the resource to a third-party - in order to get to the higher levels of valuation that we all want. If not, it is more capital raises at below market prices.
I’m a holder of GBR shares in the hope that it moves the dial further towards a re-rate, or that something happens in the macro context that does the job for them.
Reasonable valuation, page-11
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