After viewing some asx announcements and twitter feeds, and reflecting on what $LEG is drilling, I’m thinking that a $400m market cap for a nickel explorer close to a commercial discovery is still bloody cheap.
How many nickel discoveries are there annually??? Not many. They are damn rare. As opposed to gold miners with decent discoveries, that are aplenty, and whom have $1B market caps.
So if LEG finds what many of us think is under their ground, and given how much ground they have, what value can be attributed to it? Based on the laws of scarcity, and given Nickel (class 1) demand sparing ... I don’t think $2B+ is unreasonable.
let’s see how this plays out.
LEG still cheap
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Last
1.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $40.71M | |||
| Open | High | Low | Value | Volume |
| 1.4¢ | 1.4¢ | 1.4¢ | $16.20K | 1.157M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 292239 | 1.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.5¢ | 1103424 | 8 |
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| Last trade - 15.57pm 03/05/2024 (20 minute delay) ? |
| LEG (ASX) Chart |