Market has given a negative value to Roseby because:
- The resources are uneconomic @) 0.5-0.6% grades
- They will do infill drilling (last ann) to have a resource statement uprgrade for another measly 70k cu at similar grades at the "copper discovery at Turkey - yes a turkey discovery
- therefore they will spend $s for jorc upgrade -- which will not add any value
- this kind of spending is no different to $$s spent on Little Eva NPV upgrade (through playing with costs) without any jorc upgrade
All IMO and I believe the market is not silly - it just yawned atthe turkey 'discovery' and believe that the residual $40m after distribution will just fritter away with no value added.
AOH Price at posting:
24.0¢ Sentiment: None Disclosure: Not Held
