The lack of a mining license is the number one issue holding the share price down. Very conservatively, I would expect it to quickly pass 10 cents on the back of the SML being approved, possibly even 15-20 cents. It'll go higher once finance for the refinery and construction has been sorted.
Pensana, who are still in the process of finalising their BFS, has a market cap more than double that of Peak's. That's mostly down to the fact that the run from here for them looks to be pretty smooth sailing, compared with the three plus years that Peak has been waiting for the license, I think. (Disclosure: I own shares in both companies.) But it does give a bit of an idea of what could plausibly happen once the license is granted - with the license, I cannot see Peak being worth less than Pensana (though that could change, depending on the BFS, I'd consider it unlikely.)
Fingers crossed.
PEK Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
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