The figure I have seen when the value of the near surface has been discussed is about $200M profit. If that is confirmed by a scoping study I would be thinking the next step is to get some debt financing to proceed. Plenty of work to get that stage.. i.e. environmental approvals, mining approvals etc. but the possibility for enough cash to come in the door probably exists.
When I was trying to forecast how the SP might move I factored in the scoping study as a given and positive drill results a high probability. The scoping study should have put SGQ above 20 cents ... and the results a wild card. As it turned out everything went pear shaped. But I can see nothing wrong with those SP estimates once things get back on the rails.
SGQ Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
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