In a nutshell, it still has a super low MC (sub $30m) and the asset is legit:
1. Ionic clay REE deposit (one of the only ones outside of China).2. Borders Sierra Verde (currently under development by PE - Denham Capital), this is a beast, so check it out.
3. The historical drilling results look promising (Not to JORC standard and handheld Auger drilling so take it with a grain of salt).
4. Cheap Vend.
5. Tight SOI, ~70m
6. As a comparable, check out MEI, capped at $500m. To put it into perspective, Tolga paid $170m CASH for that asset (Alvo got this asset for a fraction of that and only after success). If I was a punter that made money on MEI in the last 6 months, i’d be looking into this one. That’s a lot of eyes on this stock tomorrow.
7. The project vend caught the market by surprise (this stock has been dormant for like 4 months), so all the stagnant stock would of washed out today.
The funny thing is it has only been trading for 2.5hrs and the interest was huge.What’s it worth?Next 3 to 12 months, if they can prove this up properly (20-30m hits) it could be worth $100-200 million.That’s my two cents.
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0.165 | 1864 | 1 |
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