If you look at some of the nearby neighbours of Mt Bevan, one on side of the scale you have Jupiter Mines with a market cap of over $600 million, a comparable JORC resource and trading at around 20c/ton. On the other side you have Mindax who have a market cap of around $30 million and trading at around 2c/ton. It appears that Legacy is following the path of Jupiter and so a 20c/ton valuation gives a market cap over $100 million which is certainly possible but obviously a lot will depend in the short term on what NMDC pays for their stake and how much DSO they are able to uncover to complement their magnetite resource in the next rounds of drilling.
LCY Price at posting:
21.5¢ Sentiment: ST Buy Disclosure: Held
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