The great thing is the latest DCF valuation of A$10-11 is only calculated on the current proven jorc amount. It also assumes a production cost of US$25/lb.
With the scoping study due out in the next couple of weeks, I can see this cost being considerably less, US$15-20/lb IMHO, given the higher grades.
I think the days that someone could mount a successful takeover offer at A$10.00 per share are now gone. I think myself a figure of around A$15.00 per share will be required for any successful takeover bid, on the current results. Mind you, I still think this would be cheap, considering the huge potential up side, the successful bidder would have acquired.
I would be happy to hold until Extract went into production to reap the rewards, but I don't think that is an option for Mr Dattels and co.
Maybe my dream won't be so far off, after all, Harlee?
Regards
Steve
EXT Price at posting:
$7.75 Sentiment: LT Buy Disclosure: Held
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