My understanding is the market should generally value the stock at 60% of the mines NPV once DFS completed and mine go ahead approved
60% of current estimated NPV of $300m puts share price at $1.20. Any increase to resource from drilling results adds to that. Also, the NPV estimate assumes commodity prices will be quite a bit less than what they actually are right now, so further upside opportunity there
With such good economics and good management... why wouldn't we get mine approval next year?
BML Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
