As I've said before 118M dollar MC for 160M pounds in the ground is cheap cheap, cheap.
John B. recently said that at around $120/lbs U price, which is where we are going back to and beyond, a Namibian developer should be valued at about $10 per pound in the ground. Also, because a lot of EL8's resource is close to the surface, hence easy and low cost mining, it puts a premium on this also. U-pgrade is the icing on the cake.
That puts EL8 at $1.6B+ valuation when they soon become a developer or get bought out.
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