Someone answer me this question.
Assuming that the PEA costs $2m. The current market cap is $80m.
What would have a PEA showing that the NPV of DSO from the shallow resources is $250m do to the share price? After all, all they need to do is to dig it out of the ground, run it through a separator and ship it off.
It would have increased the market cap by at least 20% as the project is significantly derisked. As a PEA is a third party valuation of the project.
The question then becomes why did David not pay $2m to make $16m+? Is he dumb or does he think the project is not feasible? David is certainly not dumb, otherwise he would not have lasted this long in the industry.
AW1 General Chat, page-2988
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