As can be seen from these peers coto, there is a MBer potential...

As can be seen from these peers coto, there is a MBer potential here thats unparalleled and the market is rerating these producers after first pours and stable production months afterwards.

Yet coto, none of these peers have a MILL larger than the Kanowna Belle MILL like we have at BS MILL at a whopping 2.2MTpa mill capacity that can earn up to $1.3B revenue pa in months if fully fed and restarted at low capex.

The LJ MILL is also massive at 1.5MTpa and can also be converted to Gold and Li production from its prior Ni production.

These POS assets that cost $3B to build by WMC, LionOre & Norilsk are mass producers at remarkably good condition and NO CAPEX was spent acquiring them (paper scrip swap) so the valuation case is not factored in at all as yet as they are not being used to produce YET.

Once the market realises the mass scale of the assets used for GOLD production & production escalates, this will take off more than the GP has imho.

I dont think the market has realised the mass production profile and low startup capex that HRZ now has. Soon we will be comparing HRZ to these above peers imho.