Anything with decent gold hits is getting substantial reratings in this environment, KAL, OZM for example. Drilling set to start in 6 weeks, I imagine that the SP hovers around the current mark until then, but 10m MC is fair. IF they do hit anything decent, they've got a bit of leverage as they're already sitting on some decent cash, so no imminent need to go back to market unless they hit something really substantial, but if that's the case then we're laughing. Couldn't believe that shares were on offer for sub 7c only a few weeks ago.
Good from management to assess the macro and realise that gold is the play right now in the micro space - anything surface level suitable for open pit and they will get snapped up for many multiples of the current price.
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