If we were to bring corvette grade back down to same as Adina, it works out to be around 135MT. Not 150-170.
That’s around 2.3 Adinas. Definitely does not justify a 6.2 times difference in market cap value.
When Adina gets upgraded with higher grade zones in q2 before PMT‘s upgrade in q3, it’s even harder to justify that 6.2 times difference. Adina will probably be looking at around 80MT at a higher grade. Helios will have a more exact figure on that.
CV13 is looking thin compared to CV5, and CV9’s 100m at 0.39% looking to dilute the overall grade of your next MRE upgrade. The initial hype was around CV5 extending the entire strike of the corvette property. Now that bubble is deflating as the market learns of the new results. All that hyped potential is turning out to be just that….hype.
PMT Price at posting:
73.0¢ Sentiment: None Disclosure: Not Held
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