To see where this might be heading in time, I thought about looking at RIV for an example - not sure Bungi if you have done a milestone/graph comparison - I'm not skilled enough. Interesting to see a few early similarities ;
- 27/08/04 Patersons recommend as a Buy @ 20c with RIV taking a 74% in coal project with BEE partner - RIV appoints experienced executive Hugh Callaghan - Undertake a BFS at this point which will take about 9 months - It is expected that this study will be completed by July 05 AND WILL BE USED TO SECURE PROJECT FINANCING FOR THE ESTABLISHMENT OF MINING OPERATIONS. - 09/11/04 RIV share price @ 40.5c - 08/12/04 RIV share price @ 55c (50 mill shares on issue - 06/12/05 RIV share price @ $1.00 (93 " " "
Mozambique Project ; - 26/10/06 Settlement on purchase of Project SP $1.10 - 05/12/06 1st Drillhole Result SP approx $1.10 - 08/03/07 18 further borehole results SP approx $2.00 - JORC definition of 1.2 bill tonnes SP $10.00 (154 Mill shares on issue)
Now I understand they have a lot less shares on issue but we already have 738 mill JORC inferred which we could think can be extended on to over a bill indicated without Tassie so a very safe Investment bet IMO. Enjoy the journey longs...
CDS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held