$10 million aud MC is ridiculously cheap for circa 3 million ozs Au.
As soon the Colombian political scene changes this will rerate back to realistic numbers for a realistic minimum value.
Pity Ni is on the nose for the next 12 to 18 months but for anyone with a longer than 2 minute time horizon the PNG discovery should be decent.
I'm interested to hear what major SH's are thinking as they have been loading up lately based on previous announcements.
Question now is, will one look back in a couple years when this doom and gloom sentiment for small caps has passed and see this as an extraordinary low in the company valuation?
Welcome to Small Caps investing, never a dull moment.
LCL Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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