Never have any cash, page-94

@justfied duck of course Im not saying its should trade at its IGV!

why not actually read what I'm saying mate?? before making your smart snide remarks.

For a junior ASX stock with promise trading at 1-2% of its IGV is not at all unreasonable is it not?

Most other promising-looking mine cos trade at that - or more - i do know they certainly get bought and sold for that in the real world as assets (usually nearer 5%) . so 1-2% is a the low-end valuation. (is it not sir?)

- But HVY is currently only at 0.035% of its IGV - so to me that's cheap.

if it was at just 1% of its IGV (which is in my humble estimate A$4.46 billion- as explained above) Then it should be trading closer to an A$ 44 million market cap? which would mean around 65 cents per share?. and 1% to me that's still not expensive by any means..

at 2% of its IGV- which is still very reasonable - it should be at A$88 millionish- which is over 1$ per share.

I put out these calcs to show that its cheap and the downside buying here at A$17 mill MC is therefore limited.- but the upside is huge if it ever gets into production.

downside is small cos if it all goes tiots up I'm confident HVY could sell their PG resource to GMA next door and for at least 2% of its IGV- wouldn't you be?

or take its met present value - which i estimate ay around A$300 million.- many stocks trade at 10-50% of their NPV>

HVY is still at just 5.5% of its NPV (nett present value) if it went to 10% of its NPV it would be A$30 million or nearer 50 cents a share.

try to tell me thats not conservative. investing - always cover your downside first - and the upside takes care of itself.