Not sure if Eric is referring to Magnum's share price or the value of HPI's, but I'd suggest he's wrong on both counts.
The HPI market is growing strongly, trades at a significant premium to even the highest grade FOB ores, and to a large extent is delaminated from that market.
That's why this high value-add route is so ideal for MGU. And it just so happens that Buena Vista's readily processed ore, which allows low-cost liberation to high grade concentrates is ideal for purpose.
BV has a number of kother key strategic advantages for supplying to the US domestic steel and battery industry that makes MGU look hugely undervalued on any scale if it all comes off.
