Their initial purchase at .28 equates to around 67% of their holding today so not “half”. Details, when trying to rationalise an argument matter and if you choose to ‘brush over them’ you will not be taken seriously. The company’s drop from mid .30’s began mid to late April along with the rest of the junior end of market so the mre early June had minimal impact compared to macro inflation shock effects.
As for the market knowing what the Bankan deposit will eventually be, how? Anything is possible there. Conservatively NEB is 5moz, BCK could be 4-5, 800W could be 4-5, Bankan Nth etc. The next twelve months have the potential to surpass Siguiri - optimistic but well within the realms of possibility considering what the early indicators from shallow regional drilling have foretold.
As for the MRE come end of this month I’m interested in whether they’ve been going deeper at BCK recently and can use that data to add to the inferred ounces which could surprise to the upside if so considering that it only contributed 300k ounces in the initial figure. Could go over 6m if they’ve been busy there. Anyway it’s going to be fun finding out over the coming year…
PDI Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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