I totally agree 1for1. The more I read about this new Sorby...

I totally agree 1for1. The more I read about this new Sorby Hills acquisition, the more I love it!!

The inground value of the current JORC 2004 resource is extraordinary, in excess of 2 million oz gold equivalent!! PMY is looking to spend the next 12 months expanding resources and converting to reserves whilst they prepare financing and definitive feasibility study.

It already has mining and environmental approvals and the final regulatory step is to submit a mine development plan. It has sealed road access, is 100km from port, water freely available, excellent metallurgy, tick, tick, tick, tick!! The fact that it is a shallow open pit operation with 17meters of overburden in natural soils (not rock) is literally "icing on the cake"

Once tax selling is done, cap raising is complete, and Mr market wakes up and realises this is a proven/measured, advanced stage resource that can commence mining in 2019 I expect a significant re-rate in share price.

Investors may be holding back at the moment waiting for details on the proposed capital raising, but the way I see it, it will still bag this year:

- Current market cap approx. $8m​

- PMY to raise $4.1m for acquisition (assumed at current share price)

- New market cap post capital raising (assumed at current share price) = $12.1m

This is a very simple snap shot of what the share structure MAY look like post cap raising, and does not account for options (listed or unlisted). Not considering any of PMYs other tenements, I would expect a market cap of $20-30m this year and all going well $+40-60m this time next year, all IMHO.

GLTAH + DYOR


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