Yes - as a holder in RMS, I have been following the SPR story closely.
Would be very happy if we replicated SPR: just18 months ago, they were 10c per share and $61m market cap. Now $1.52 per share (15x) and $1,586m market cap (26x).
It would be wonderful to think we could also go for a 15x ride over 18 months (so, 12 cents and $600m market cap), but probably unrealistic.
Assuming we have added in 1.5mo for an inaugural Limon resource by then plus let's assume further drilling at EP and Brama add a further 3mo, we would be sitting on circa 8.4mo resource. So, I think that at $30 per resource oz under this scenario, a market cap of circa $250m / 5.0cps share price probably caps the near term for STM.
The outlier to this is a stunningly attractive deal that massively accelerates progress with our assets.
STM Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
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