With Market Cap now below $400m, $112m cash in bank, $44m in...

With Market Cap now below $400m, $112m cash in bank, $44m in land and having spent approx $170m in Exploration on a globally significant discovery in a low risk jurisdiction, this value is now looking ridiculous.
Mkt cap (ex cash and land value) is now only about $75m above exploration sunk costs! Surely some bigger players are now looking at this like a tasty snack? Zimplats / Implats as an example!

Downside is that SS dissapointed market (surely fully reflected!) and metals prices are in the doldrums, but now also below cost for many miners ......so in time this will surely resolve. With CHN Devt still 3 years away and some with significant capital needed you could argue that there are no near term positive catalysts (outside of a turnaround in metals prices). However, as stated above the market cap means that surely this becomes attractive for any producing miner still exploring .....afterall the reason you explore is the hope of a discovery like CHN has made, and current price means you get it for little more than exploration cost!

It may take a few months, but anyone getting in near current prices is very well placed imv. GLTA