The announcement about the extended scope of PFS has garnered a sharp reaction (SP) fall in SOLG.
One postulated reason is people impatience in expecting a short term price rise with PFS news and bid from BHP.
It would have to be hot money chasing a near term return.
Personally, I don't see it I actually look back and see how far we've come.
In the back of my mind, I just didn't see the mine design talked about. I saw a well-defined resource and reserve from successive expensive drilling. I saw enough rock hardness and metallurgical test to know it's a goer from BC/PC. I now see Cu &Au prices from Supply-demand situation that really justify the mine being built.
If the mining committee say they think there are advantages to be had and have named them I'm OK with it. I suspect only half of the initiatives will yield fruit. The announcement said they will keep us informed of the progress and I'm pretty sure they will.
All I want is a really good mine and the eventual owners will recognise the value. At the point of PFS it's expected to be worth 30 to 40% of NPV. If the NPV is $3.5B then I would expect it would be bought for that amount say +/-20% of that number. If I get that it's enough for me. If that number shows up as cash or BHP on The table I really don't think DGR will trade at say 36% of NPV.
As Sends correctly points out there's rapid gains in IRR. There's a bit of euphoria in that price as it Climbs (rushes up) the first hump of the Lassonde curve just as SOLG makes hard work of the subsequent valley.
BTW Pierre Lassonde is accredited with the curve is one of the of Franco Nevada. That's how it all hangs together.
All IMVHO.
Sorry for the length of the post but we may need a clear head Monday morning.
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2 | 533000 | 0.009 |
2 | 260000 | 0.008 |
1 | 200000 | 0.007 |
Price($) | Vol. | No. |
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0.012 | 140000 | 2 |
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