Who knows what grades that they will get, but it feels extremely cheap @~$18m MC ($0.40/share) even before the assays drop. TEM seems like the logical comparable (with their recent discovery, same area etc…, also awaiting assays), anyway, TEM, is currently capped at ~$44m (excluding the 100m of CapRaise shares and another 50m of oppies to hit the market from the 26th April).
So if you add the new shares to the MC, @ $0.11/share, TEM will be capped at ~$55m, after the shares are issued, next week.
Should there be a 2 to 3 x difference in valuations? REC - $18m vs TEM - $55m
REC’s visuals look pretty decent to me, especially at this Market Cap.
·14.7 metres of Ultramafic with quartz veining with massive and disseminated sulphides comprising pyrite, arsenopyrite and chalcopyrite, and magnetite, from 260m
·63.8 metres Ultramafic with quartz veining with blebby and disseminated sulphides comprising pyrite, arsenopyrite and chalcopyrite, and magnetite, from 274.7m.
·54.5 metres of Ultramafic with quartz veining with massive, blebby, and disseminated sulphides comprising pyrite, arsenopyrite and chalcopyrite, and magnetite, from 338.5m.
If they get some juicy grades coming from there then it will run hard (at this MC), in the meantime, there should be plenty of other catalysts to keep an eye out for:
·Diamond Tails
·Downhole EM
·RC Assays from Jan 2022
(Table 1 of the announcement 29/3/22 extracted below):
