Blythefan,the State One research is a joke. Some assumptions are...

Blythefan,

the State One research is a joke. Some assumptions are insane

- 100% equity is BS (I was told 50:50 debt/equity)
- cost escalation but no revenue escalation is nonsense
- cap raising at 1.00$ while NPV is just at .97$
- peer group comparism quite brief
- sp target 33% below former target without explanation

However - 1$ should be a reasonable intermediate target. Next steps will be

- farm-out of Argentinean assets (quite a nice package)
- re-commencement of drilling in Livingstonia
- scoping and then PFS focussing on recoveries, process route optimization and marketing (target = off-take agreement)
- placement not before year end

Cheers

Lenni