Thank you for the updated model. All the adjustments you made appear very reasonable to me.
So with a bit of luck, a Transaction Based 2P Price/Share of somewhere around $4.30 is achievable. And this is based on the assumption of another 400m shares being issued some time down the track!
I think the risk/reward equation is definitely in our favour given the quality of our management and results to date. Hopefully with Neil's extensive experience in Mongolia, he has the connections and network to minimise the sovereign risk.
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Thank you for the updated model. All the adjustments you made...
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