Exploration is high risk, most people aren't interested in exploration assets until the make a discovery and thus KRM is priced as such. You think KRM would be priced where it is if they had Pentikat approvals? Rana has all the right elements for a discovery, we won't know until its drilled out, in the meantime thats where the valuation uplift will come from. Personally feel the risk reward is very much in buyers favour at sub 1om EV.
Exploration is high risk, most people aren't interested in...
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