This is certainly shaping up like it could be another major West African mine... On a recent Koba Resources presentation they state that Afema has a Resource of 2.8 Moz - https://www.koboresources.com/contentFiles/files/Kobo_CorporatePresentation_Sept2023_final.pdf. I would like to see more data on this historical Resource - if anyone one here has this, please share.
This must obviously be a historical Resource - and this Woulo Woulo discovery has been made since then. So Afema could realistically be a multimillion ounce project. All they need is 1Moz extra to match Persus' Yaoure deposit, which is now in full operation and printing cash. Then we are talking about a take over target... all the ingredients are in place for a significant rerate in my opinion, notwithstanding the current bull market gold is in. Based on the historic 2.8Mounces, they are trading at extremely low EV/oz.
I don't understand the market's lack of interest in the latest announcement, but I'm happy to buy more at these levels.
This is certainly shaping up like it could be another major West...
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Mkt cap ! $160.9M | |||
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