Well, they are earning 51% for the cost of BFS + $22m, and their exploration target is 1mt of contained copper - if I remember correctly.
I think they have 76m 45c options. So a good chunk of their capital requirements can come from the exercise of those options should the price improve.
-> IF <- they get to the 1mt contained Cu target on a good size/grade deposits; And if they only double the share issue doing so, then, I guess we could see a price of at least $2 for a cap of about 700m pre capex, based on their share of in ground value = US4b.
It's all very speculative at this stage, and things will need to go according to plan in the DRC.
I would appreciate constructive comments from people who can value early stage mining speccies.
TGS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
