I can certainly see upside BL but $1b MC in 2 years maybe a tad optimistic...
One thing is becoming obvious and that is Thalanga is unlikely to be producing at much more than 4-500,000 TPA on average for the foreseeable future, so revenue likely capped in the $30-45m per quarter depending as much as anything on commodity prices in AUD's going forward.
The only thing that would change that IMO is another large discovery in the area bringing in a second mine again after Far West, This is not going to happen in the next two years if at all, however there is a good chance the LOM can be extended as they drill Liontown.
So that leaves Hillgrove to pick up the pace and that gets complicated as Syndicate has only about 12 months of resource before they need to make a decision to either expand operations or continue with the set up they have now, which is 250,000 tpa possibly ranging up to 350,000 tpa or maybe a little more. Also we simply don't know how it will perform or when it will start , hopefully in the second quarter but could easily move into the 2nd half.
That aside , GOLD with ANTIMONY credits is looking like a very good combination and it would be difficult not to make good money at current prices.
As far as I'm concerned as long as the shareprice/MC increases going forward all is well, putting a figure and a timeframe on it is folly IMO....
Cheers Whisky
