Hi I have taken a small position here. The risk-reward calculation seems pretty good. The MC seems very low given the resource already quantified, the grade, supplementary income through copper, and future resource upgrade prospects.
I am seeing three things that might be keeping a lid on the share price:
1. Metallurgy and related process complexity as PB has referred to in his various presentations.
2. Chinese involvement - I cant help but observe how the standard main shareholders list doesn't appear on the "corporate overview" slide and how PB consistently refers to a loan from "the biggest shareholder" without mentioning who that is (please note I make no personal judgement on that but just see it as likely a negative to some).
3. Absence of local consolidation momentum thus denying us a backstop option when the professed development pathway is inflation-ravaged and difficult.
Welcome any comments either for or against what I have said before I decide to commit any further.
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Mkt cap ! $17.84M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
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Price($) | Vol. | No. |
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2 | 162000 | 0.057 |
2 | 145625 | 0.055 |
1 | 20000 | 0.054 |
2 | 343018 | 0.053 |
Price($) | Vol. | No. |
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0.060 | 74552 | 1 |
0.061 | 36944 | 2 |
0.062 | 12600 | 1 |
0.063 | 20000 | 1 |
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