Jack, off the topic of charts, but one thing to remember about the fundamentals with ALK is that quite a bit is assigned to exploration at the NMPP. Edison puts 61c on it for their overall $1.30 value. So, if Boda et al doesn't turn into anything, you'll need to reconsider the upside.
Having said that, I am holding and hoping that Boda does actually turn into something bigger than 61c worth.
Valuation: Up to 130c per share. Our ‘base case’ valuation of the expanded and extended Tomingley operation is 35 Australian cents per share (cf 32c previously), to which may be added (as contingencies) a further 6c for the eventual development of the Roswell underground extension and potentially 12c given the current gold price. To this total of 53c, an additional 4c may be added to reflect the value of residual (unmined) resources plus 3c for ongoing exploration success at Roswell, San Antonio and El Paso to take the total for the wider Tomingley operation to 60c (including cash held centrally). Beyond that, we value Alkane’s interests in Calidus and Genesis at 9c per share and the exploration completed to date at Boda and Boda Two within the Northern Molong Porphyry Project at up to 61c with plenty of blue-sky upside still remaining to take the total up to 130c (cf 125c previously – see Exhibit 10).
ALK Price at posting:
80.0¢ Sentiment: Hold Disclosure: Held
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