Its hard to value these narrow vein mines, as its uneconomic to drill out a large measured resource unlike for a open pit mines. Inferred resource is acceptable for traders but not for fund managers, so it does offer a window of opportunity for traders IMHO.
However you just have to look at how RMS value plummeted after they failed to get decent drill results however to see why Fund managers dont rely on inferred resource so there is a fair degree of risk here
One thing I feel you need to take into account is how much value do you put on managments ability, do a comparison of the ability of Beument compared with other MDs in hard rock mining.
The above is just my opinion and am not qualified.
NST Price at posting:
82.0¢ Sentiment: None Disclosure: Held
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