Given that La Trobe valley lignite is valued around $4 per tonne you could say GLX is well under valued. But consideration still needs to be given to the extensive effort to get it out of the ground. With ~60-80m of over burden to be removed we talking no small task. Hence we need to wait for the PFS to get a picture of the OPEX and CAPEX required.
GLX
gulfx ltd
drilling program 100 percent completed , page-13
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