" given your projected numbers and massive undervaluation that you claim, how has this not been realized at any point in the past when zinc, silver and lead prices were more favorable? "If you're relating to the previous owners:
- Perspective has changed as Sorby was portrayed as a Silver deposit & not a Lead deposit
- FX rate has changed dramatically
- Size/scale of project + recoveries adjoining the new perspective on the resource etc
However, if you're relating to the previous year PMY:
- I believe the catalyst & major milestones (beside the boxes being ticked along the journey by management so far), would be the PFS that demonstrates the robust & stable metrics of the resource at a larger scale. This will show how sensitive & derisked Sorby really is for financing & reflects the OPEX rather than the already established low CAPEX required (OPEX at depth will verify & further derisk the project significantly).
- This isn't just a reflection of the financial aspects Sorby delivers, it highlights the team's identification, managements ability/fund allocation along the journey & the interpretation on a geological basis to increase the resource in strike/width/depth, where the resource remains dominantly open from surface.
- To conclude it further, the PFS isn't the major ingredient for some traders & investors as their R&R is variable in nature. Albeit, I strongly believe with other holders that the PFS will align PMY to successfully be in a position to lock in binding Offtake agreement & potentially secure a chunk of capital toward the CAPEX.
" as a new holder i am obviously not wanting to down ramp, but i get awfully sceptical when any single poster is really pushing a certain narrative over an extended period of time whose calls fail to materialize. "Completely understand your sentiment & the threads optimism would definitely vote further investigation before buying a company. PMY remain speculation at present, but we strongly believe the team & catalysts are transitioning the company to become a producer with such a stable & open asset. Metrics of this category don't sit in the ground whilst being based in a Tier 1 Juristidnction state.
There are a number of determinants that could affect PMY's success but IMO, it's of high probability for success rather than failure with a firm top 5 & an overall great top 20 registry. For 2.8bil SOI, we remain particularly tighter than other companies, but it's relatively easy to manipulate a SP having such ammo to instil pessimism in the market, which is, unfortunately, our downfall but can also work in our favour on the back of a create where we see an abundance of traders hope on due to the liquidity.
As for the other comments/queries, I believe with further investigation, interested market participants would be able to answer solely.
(check the holders involved in PMY + horizontal/peer comparison is a great tool, but the LOM & methods used to determine certain factors can impact the outcome if you can't evaluate them properly so please be aware)
Cheers.
Superb comments & analysis V. The NPV figures both calculated from you & indirectly shown by Andrew from Euroz are aligned.
Cheers
Expand
(20min delay)