I understand that many base metal investors used to (don't know if they still do) 'value' in ground resources that are not able to be classified as resources using a '3%' rule of a conservative estimate of recoverable value.
Is that relevant here?
If so, the market cap for AJL should jump to 0.03 x 0.56 x $134B = 2.2B (if that was it's only asset) which is ten times the current market cap, suggesting a $16.50 sp, or twice that amount if the recent 20% recoverable figure is used.
AJL Price at posting:
$1.47 Sentiment: Buy Disclosure: Held
