$9 NPV for the ex-State Forest part of the deposit where all of the drilling is going on now. EM + soil geochem suggests a conservative x2 of deposit size in the State Forest. This needs to be tested with the drill bit before getting carried away! Resource out in 3rd Qtr this year (later rather than sooner I bet). Assuming drilling approval from authorities in 3rd Qtr also then when we may have an indication of State Forest potential by year end? Doubling deposit size does not double NPV: those later cash flows (25 yrs + ?? if mega deposit) are worth little to you and I today. If all goes well I'd hope for $15 by this time next year with more upside to come if the State forest gives up 5 km more of mineralised strike demonstrated by drilling + the other projects. I really like Thor as the next big discovery.
Not advice - my unqualified opinion based on CHN releases. There are risks out there as well around metallurgy, environmental approvals and Pd pricing for example.
DYOR & GLTAH
CHN Price at posting:
$9.11 Sentiment: Hold Disclosure: Held
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