Just did some quick and dirty calculations on our recent MRE and trying to compare it to CHN's recently published resource.
CHN's resource from yesterday.
Our resources from a few weeks back
Using CHN's "Ni equivalent" conversion rates look at point 2 below
I'm calculating our resource is 61.5Mt @ 0.5011% NiEq. CHN was 330Mt @ 0.58% NiEq.
CHN NiEq tonnes is 1,900,000
POD NiEq tonnes is 308,176
@robbo24 can you give some comments on my calcs (if you don't mind that is)!
POD does seem well priced at this stage (~30 times smaller than CHN on a MC basis) and POD does have upside potential in parallel reefs as well as the deeper plunge of the Parks reef itself. CHN has considerably greater exploration upside on their tenements.
I think that a more credible "path to market" will be the catalyst to get POD back to previous all time highs, which might seem far away at this stage, but the base is already there with a sizeable NiEq resource . This resource, I believe, will convert to measured classification in the 85%+ range if POD chooses to.
Having said that, there are high grade areas which can be targeted initially...and also the Rhodium and Iridium which wil bust the above numbers much higher. The 0.5011% NiEq will be a lot higher, I just can't model it as I don't have the information.
POD now has the funds to undertake the rhodium/iridium assessment, so get it cracking, I say! The upside in valuation (should the assays be what we expect) will surprise the market you'd think.
