The 22Feb21 placement announcement stated "Hastings are focused on the remaining key work-streams, including mineral resource upgrade to grow the project life and improve financial metrics, finalising off-takes and concluding debt finance."
Deducting the equity project cash ($100m) that they have already raised and ($31m) options cash value - i.e., assuming exercise - this has a FD EV of $200m, against the current project NPV of $549m.
And with a major resource upgrade imminent for all of last years and this years drilling. And trends still open. So that NPV will increase over time.
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Brokers have already upgraded their current price targets to 30c, so a near term 58% gain. I'd expect a triple a bit further down the track, based on that FD EV and the current NPV, but with major upside from resource upgrades and any positive pricing movement.
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Director Performance rights have just been issued. Equity cap raise recently completed at 19c.
Let's go.
Construction could start later this year and production in 2023.
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