Unfortunately Australia does have a sovereign risk, but surely the sovereign risk in Mali is greater.
The BGS site is a long way from the coast, 2,400 km by road West to Dakar in Senegal, for example, or 1,700 km South to Lome in Togo. KDR's site is 475 km West to Fremantle and about 560 km by road to Esperance.
The shareholders on the BGS thread are complaining that the $107m is too low.
Birimian does make it on to the KDR resource vs grade chart shown below, but the 10x roughie is based on Earl Grey only, bring in POW, etc. and the multiples multiply.
Bearing in mind the above points, then perhaps the 10x roughie estimate is conservatively rather low.
KDR Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
