Can anyone tell me why USN commands a 20mill marketcap with 2 greenfield nickel/gold exploration grounds
No wonder they want to takeover ARD who has a sizable % of resources with Kempfield+sunny corner+bullant have a total est resource (indicated-inferred) -136,000t zinc -58,000t lead -5,700t copper -146,000oz gold -22,500,0000oz silver
all valued at only 16mill
personal I wouldn't have mined if they hadn't brought Bullant an had just focused on getting 90%+ ownership of Kempfield an sunnny corner which they would just going through the process to mine. you're only reduce 100k Gold of the above resource. Going from the numbers on est Operating Cash-flows(Analyst+latest kempf) ARD with just two close together project would have Cash-flows on current prices of Indicated resources of 500,000,000+AUD they could have got into 1mtpa production without to much dilution
ARD Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
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