Positive and affirming news from NHE today, affirming that the Mbelele 2 has hit total depth and that everything is looking consistent with expectations.
The company is still targeting mid-December for the release of lab results that should by all indications so far allow them to confirm a 'Discovery' with data to support the case.
Also very positive that they have secured 4.35m debt funding against VAT reclaims to keep the company funded near-term without having to do raises before they get a re-rating based on the lab results.
Based on the MST research, and my own review of the company's maths. I am personally expecting better than a ten bagger. However, no-one can predict what the lab results and potential discovery announcement will do to the price. I would hope at a minimum it would reach the value that MST felt it should have been (79 cents) pre-discovery.
I would hope though that within 24 months they can either sell the company or do deals (which would appear to be one strategy behind appointing Greg Columbus to the board based on his CV, or achieve profit through moving into production, which their presentation to the Noosa Conference shows is expected to be very profitable, and which would force the revalution.
Anyway in terms of the STTCOMP 25% should be a high probability given what is currently known.
I hold shares, and would buy more if I wasn't already WAY overweight from a diversification viewpoint.
