potential breakout

Hi guys. Any opinions on targets from a TA perspective? looking for a potential short term upside target. Also very positive on the longer term potential of this one.

The fundamentals are looking rather good in my opinion. Currently awaiting final approvals, although might be as late as June. Cash on hand end of Q was $105m vs market cap of $80m. They have been engaging interested parties with potential off take agreements and are are looking at these funding Capex requirements and retaining 50% to 60% of the project.

If they can pull this off and get in to production in 2015 at an initial 7mt/y at $60t cost, what sort of valuation do people think could reasonable be expected? my opinion is that a market cap of $500m would be very possible. It might be dreamland but without any dilution this would be $.90/share.

As a reference, last October Glencore paid $1b for for Rio's 50% share of its Clermont thermal mine in OLD that produces 12mt/year. No idea on the operation costs there but a $1b for a 6mt/year of production on an asset rio were keen to offload would have to bode well for the potential value of BND's Springsure mine I would have thought.

cheers.