Bought a few here for the first time in a long time today. Might see 2.70 as there looks a fair confluence of support/resistance around that level but will add some more if it does.
A month away from commissioning. Metals prices ok. Current rock value on ore reserve grades is still around US$400/t allowing for recoveries.
Paul mentioned recently that new ore reserve is due and should double size. The interesting thing about this is that a good chunk of that will come from RNW which is actually higher grade than the original Rupice deposit. This will increase overall reserve grade. Also expect that RNW will get front loaded in mine plan to take advantage of the higher grade rock and reduce pay back time.
At spot prices that probably makes an updated NPV (including cost inflation etc) something like US$1.5bn. In theory still considerable upside here if they can show operations run without any major hiccups.
Bought a few here for the first time in a long time today. Might...
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