60% seems conservative when comparing NPV to market cap, it's already discounted at 8%. This latest announcement in my mind has really pushed the value to what should be more than 10c a share. I think as soon as word gets around, we get some volume in here we should be pushing much higher.
What I like about all these conservative estimates is that they're still based on management's conservative numbers, 15% of the known resource is what we're basing this off and we're still looking at the numbers doubling currently! If the pay back period is only a year and a half (not to mention $6m of that doesn't need to be paid back...) we're looking at dividends on this in the not too distant future.
EQR Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
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