"If grades hold or improve then we are looking at a 3x price...

"If grades hold or improve then we are looking at a 3x price movement."

What do you base this off?

Nikola, if grades are consistent with the mineralisation in the top 200 metres, that would imply that the the reef continues uninterrupted to a depth of atleast 500m, in reality due to the formation of the reef and the orientation (having been re-oriented to be an almost vertical structure), it is more likely the reef continues for kilometres.

With 2.2m Oz inferred excluding rhodium and iridium to a depth of 100 metres, the continuation of the orebody to 500 metres would likely infer over 10moz. Not only would this be an extremely easy and straightforward mine to construct (pit to ~250-300m, UG High grade zones thereafter), it would be less tonnage and higher overall grades than Chalice. With the inclusion of high value base metals and rhodium, it is very likely that Podium at Parks Reef will be able to produce and generate cash flow before anyone else in AU. Chalice is capped at around 3.3 billion dollars for 330mt at .94 g/t 3E for 10m Oz.

Parks Reef continuation to 500m with grade at depth will give us a very similar resource size and grade to Chalice's Gonneville.

So, my question is, why on earth is three times (300m MC) re-rate the number you have decided on?

I have seen stranger things happen and terribly undervalued/overvalued companies on the ASX before. But I would imagine a market cap north of 1 billion would be far more suitable if we prove grade continuation at 500m.

Regards,

Alf.