TSO today probably discounts an MRE of 1-2 million oz already from Ternera @220M AUD market cap.
The upside comes: what if Buzzard, Toro Blanco, etc give another 1-3 million oz and you have 5M+ oz in the ground That is what De Grey has now. So apply some "Chile" discount and you could realistically have a 800M to 1 billion AUD market cap in that scenario
However, this will all take time and depends on the drillbit going forward. I rather have TSO go slow and steady than go spike massively on hot money.
TSO Price at posting:
47.5¢ Sentiment: Buy Disclosure: Held
