You're right mate, 100%.
Right now, NKL has diddly squat, so the current valuation I'd probably fair, perhaps even lower. But if there's a hit at Dally, at least SH would know we've got an asset sitting there. It would be just a matter of sitting tight until the market improves. The MC should reflect that & could be higher than the $2.8M it is now, I hope.
Commodities always move in boom, bust cycles. There will be another boom one day & NKL would have a project sitting there ready to go.
That's how I see it.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-55
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