I think the 10 cent figure is pretty conservative if they get up and running next year fully to the 1-2mtpa figure and drilling constantly to upgrade resource then $80m market cap could be conservative anything up to 20 cents $160m is possible. Further upside if Malaysia bans bauxite or a shortage drives the prices up further could get a fair bit of hype then.
I'm interested to see if the Feldman's forgo their 65m options at 5 cents seems silly to exercise now but not if you want to increase percentage of ownership etc. It's not that easy for directors to increase their stake especially given these were part of the hand over deal by volcan for the South Johnstone tenement. It's no question Lance Rosenberg is more assured of being able to exercise his 90m shares at 3 cents mid year. Maybe that is why the Feldman's have their house up for sale so they can pay for the options.
Going to be interesting next few weeks hopefully they hit the ground running after missing their MDL / Sample exports timeline of end of Q4 2015.
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