Yes, maybe a little breather is in order for the share price, it's been a good run.
However, when comparing even modest projections against the success of proposed future developments, and given the gold price, and their initial estimated PFS, a market cap of 73m is not unreasonable.
If they can do what they intend, and produce gold and copper equivalent to 6 years initially at 70k ozpa, at the costs stated, then I would expect the market cap over the next year to reach somewhere in the order of about 160m, or a little more. I don't think this is unreasonable, given their costs, if they successfully acquire the plant. This also does not factor in any new drilling success. And they have just applied for a huge chunk of new leases. It's one to watch.
Gw
MM8 Price at posting:
15.5¢ Sentiment: None Disclosure: Held
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