Well this is a rant…and it does tie back into MTL.RCR is pretty...

Well this is a rant…and it does tie back into MTL.

RCR is pretty speculative but could have a good asset base. Their comms about a CR were terrible but the SP did not suffer. I think one guy was very intentionally downramping and I challenged him. The thing is, I don’t think HC actually affects prices without a real pump and dump operation.

I have been dragged into “those” discussions on the CGR, RCR and WA1 discussions. They’re pretty rabid, I try to be level headed. I do make some snarky comments here and there but I got shitcanned on WA1 for asking diligent questions, as I think it is worthy of buying off DCF analysis. (Sure it’s a success story but they’re a bit of a cult). I also got told DCF is “wrong”….?

Some of the posters have gone a bit batty, expecting a valuation equal to or greater than Anglo American off of three main projects, one of which at this stage will be turned into a mine and will have a respectable 427 mn EBITDA in the future from Bell Potter research (and I got berated for noting this research!). Some fool predicted a $1300 share price. Okay mate. On current prices, if you assume a forward PE ratio of near 20, then it would have increase earnings by 65 times over….(it’s actually about 3 but 21 times over from two more projects??? considering what a find Luni is meant to be, come on, man!).

I will say this though: WA1’s drilling results are targeted and the results of diligent research. This is why I have no problem with the drill programme of MTL, just the petty pace this thing creeps along at.

People in the RCR fora are freaking out because of “DUSTER HOLES!” and “YOU DRILL YOUR BEST TARGETS FIRST!!!”.

No. Mining isn’t a 19th century crap shoot. You’re building 3D models with chemists, physicists, geos, maths and stats modellers. AC then RC after a lot of lab work and modelling.

IIRC RCR has a good tenement next to WA1 so they’re a long term TO target for WA1 or whomever wants WA1.