given we're making direct a comparison to EXT
In the Dec qtr 2005 EXT completed the pre-lim site work and target definition for Husab. They had announced, but not yet started, the first small diamond drill program and were earning 51% in Husab.
at that stage EXT was trading around 3-3.5c
it had 700m shares, 135m convertible notes and 4m options
and about $2m in the bank
that means post prelim work but pre drilling EXT had a mkt cap $25-29m
at best you could say an EXT comparison value on implied 100% basis is $50-58m. that's where MLS is trading now
another way to say it might be; at this stage, the market is implying 100% probability that Mile72 is as big and profitable as Husab.
when things get to 100% probability, even though they are not, the market is getting ahead of itself and imo that's when you sell (a few).
lastly technically, if you think this chart is a buy, without any value changing news, perhaps you should consider getting new technical signals
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