Ann: UNICORN DEEP DRILLING UPDATE , page-2

Intriguing, the timelines for future updates aren't far away, the photos in the announcement look promising, as does the description of coarse visible Mo.

The scoping study released in October, for a 14 year mine life (which didn't include the current deep drilling program) after all predicted costs placed a NPV of $255 million on the project (with up to $70 million additional value for a 6 year extension). Dart also has a 100% ownership.

With share prices currently at 8.9c, for the currently issued shares this values the company at about $17.6 million. If say hypothetically share prices were to tripple in value today, this would still only value the company at about a fifth of the previously announced NPV.

This value doesn't include the remaing area of the exploration licence or any additional resources from the current drilling program.

If the above is correct, then I would be interested in hearing other people's opinions as to why the share price seems to be so low.



Disclaimer: This is not advice to either buy or sell DTM