Ann: Significant Mineralisation Beyond Reserves at Williamson, page-30

I am not sure how this can be a 5-6 bagger in the coming 2-3 years. While the company can bounce back if it stabilises its operations, we have to think about how the numbers stack up.

BLK currently has around 1.4 billion stocks on issue. The stock price is almost 3c so market cap is $42m. The company also now has around 114 million convertible stocks from the Lind funding packages. Another 120 million unlisted options that may or may not expire. Assuming this, there is around 1.64 billion fully diluted stocks. Supposing that the company does move up to 100koz p.a. at AISC $1 200/oz in the coming year, that should justify a market capitalisation of around $150m, or a stock price of 9.5c or so. That is a triple bagger, assuming no further capital raising and dilution. I reckon the company will unlikely produce 200koz p.a. until around 3 years from now minimum. That should justify a market capitalisation of $400m, or 24c. That's an 8 bagger, again not assuming further capital raising and dilution.

I think the company's past track record has not been flattering so I would say a double bagger at the current price is what investors can dream about for the coming year, conditional to the company really getting their act together. Though that is going to be quite a stretch and many posters here will justifiably find this a scoffable proposal. But, who knows, sometimes companies do pull off something pretty stunning. I am at all leisure to see it.