So the closest analogy is Frontier as it normalises the location but adds a new variable being the listing exchange. Their MRE is around 60 with some African style intercepts (think 150m x 2%) so absolute no concerns with their resource grade / size. They issued their PEA / PFS last year I think (big CAPEX as they planned for both upstream and downstream being wholly owned) and the SP has been going down since $3 to now 98c so I’m not holding my breath with the PFS at GT1 helping. I feel like an M&A move in Ontario is going to be the catalyst considering the favourable valuations vs everywhere else. Ontorio is actually cheaper than Africa at the moment. And one of the Abermale execs had recently mentioned Canada M&A is their next port of call if LTR doesn’t work which is exactly what ended up happening
GT1 Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
