I think a target price of $20.00 is quite justified, for starters as they are sitting on a 1.6 billion ton resource and that is with only 1/5th of the prospect drilled. Brm has many other tenements which haven't even been touched as yet and I reckon the patient long term investors will be handsomely rewarded. I remember when Woodside was 40 cents and I don't think Brm is any different.
arrowhead valuation report, page-9
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