Don't know about that @1982 but i can advise you I recently had a chat to Simon upon his arrival back in the country and i was very impressed with the intended pipeline of not only the cashflow projects but the large greenfield find in which their closing in on.
Lets just say i'm very bullish on what they will find in Korea and the progress in which i think will bring Kochang and Glandore into production much sooner then market thinks. I will hopefully have a catch up with Simon in person shortly.
This is a large and highly convicted long play for me.
I am 100% sure of the following:
1.Plenty of headroom in this SP near term------- Lets just break this down with a profit share figure of 18 million coming in Q4/Q1 2017 net of met x payback. So at today's SP you have a EV (enterprise value) of ONLY $2 million dollars. This is ridiculous especially considering their ground is some of the best around and they will never have to go to market for working capital. There is stocks achieving valuations of 40 million on prospects of a good hit and knowing full well they will have to go back to to the brokers with cap in hand for a dilutive placement. This will change only a matter of time......
2. IMO this stock still to this day is heavily under the radar of the investment community one of many indications of this is the amount of views on it's HC threads. This may sound lame but this is where a large network of retail and professional investors lurk and both take information and inform users of specific stocks. The second point on this is they do not have a broker network as they don't need to use them for working capital so therefore we loose exposure to the broader investment community.
In conclusion the SP will be sorted from here on in as the story grows and more exposure is realized by the investment community if I were a investor finding this now i would start chewing through the wall at 44/46 as you wont have to move the SP to get a good parcel. Anything after that i feel the register is tightening up really well and its ready to explore levels where it should be.
Cheers bonkers
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