you are right about location. In regards to potential tonnage, one needs to see a risk containing in potential, it is different play with AZS where they pretty sure should sit at 125-135mt just for what they discovered so far.
But no doubt if one day the two could be sitting on par, WC8 valuation will be then well over AZS due to the ownership and location. So at 130mt says (which AZS is valued at the moment), WC8 should be sitting at 3B (remember LTR valued at 7B at $3 and their tonnage also at 140mt). It is not hard to think $7B for a developer and $3B for an explorer owing the same same resource so the valuation in this scenario to me is not ridiculous.
Given so many targets they are having on hands untouched. The MD once said they are just catching the surface and think he meant it. all are within possiblity. Good RvR play here now.
WC8 Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
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(remember LTR valued at 7B at $3 and their tonnage also at 140mt). It is not hard to think $7B for a developer and $3B for an explorer owing the same same resource so the valuation in this scenario to me is not ridiculous.
(20min delay)