So, they have a mine close to approval with $60m NPV based on 8% and 7 years. Totally believable they'll get that up, given low cost of development... But is there anything else under the hood that's close? If that's it, $20m fully bakes in the value in my opinion once discounted for risk and corporate cost, and if anything I think it's overbought... I don't see any drivers more. So why the run?
Bargain buying!, page-13
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