That was one of the strangest trading days I have ever seen on the ASX on the back of an incredibly positive announcement. The $30M modelled to be profited from both Boorara and Phillips is likely to be at minimum $50M and possibly even higher based on that update. This is because: - Additional space for processing; - New and better mill deal with HRZ for this additional ore; - Further ore found which is now deemed economic; - Gold prices increasing.
Strange trading today, the next top 20 should tell us more if it was a major shareholder departing. Or whether it was the final overhang from the POS deal exiting. At the end of the day, less weak hands and hopefully more space to move higher in the weeks ahead. Maybe it was the day we needed to have in the Scheme of things to wake up everyone to the value here? MC took a beating today and makes us now 5x upside from here in relation to our gold producing peers IMO.
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