Despite another fantastic week last week, we still sit at only a 27m market cap. I do understand that the additional shares from the cap raise are not yet factored in however that takes us to a little over a 30m market cap with plenty of cash in the bank from the raise.
Relative to peers, we are still significantly undervalued IMO.
Therein lies the opportunity for both existing and new investors.
The good news here is that even when the new shares are issued from the raise there is incentive to hold them for these investors due to the 70c options that are attached. This will be voted on at the next AGM so until then I'd be holding all of mine if I was a part of the raise.
As a simple comparison LNR who are searching for REE who are also in a great location with a lot less land than us have only just commenced their maiden drill campaign and are part way through it. Without a drill result yet they are a 51m MC.
Will be interesting to see what this week brings.
GLTAH.
KFM Price at posting:
64.0¢ Sentiment: Buy Disclosure: Held
