All signs point to it being ok and given that the BFS was fairly recent and they have been optimising it I think they might be able to reach targets on this. If they do it will be well over $1 imo and that is not including the African projects which are positive of themselves.
Did you have any reason for suggesting that the resource is undeveloped? Was it metallurgical issues that stopped the development or were local community groups causing problems with protesting?
I personally think that they did not overpay for this and that they got a very good deal (providing they meet their targets)... especially with their cash position they got a pre-production asset without excessive dilution!
CGX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
