Would love to hear you expand on this one. It doesn't sound expensive at all to me and given the hype around gold IPO's at the moment I would expect this one to pop at least 50% within a week of opening. I mean jesus if Siren gold can hold a $30mil MC on nothing then I expect this should hit the early $100mil easy.
It's not just an explorer - they have their FS and at ~674,000/oz of which almost half is in reserve status they are now feasible for a plant build and with AISC at $1,203/oz so if you assume gold at AUD $2,500/oz they have at least $200mil in the green post plant build. And the compliant deposits are still open at depth and along strike so you can understand why they want to pump more exploration dollars into finding out where this lode taps out.
Excellent to see a northern star director chairing the company, I'm sure he's picked up plenty of experience on the best way to make a billion dollar gold mine and the managing director certainly sounds qualified.
I likely won't be buying as I have enough allocated to speccy gold plays but this one will be on the watch list.
