Must admit I am a bit surprised this one has not run a bit harder compared to it's peers.
It may only own 50 % of the action, but when you do the depth vrs strike vrs width times specific gravity type arguments (over 5 mt i.e. 2.5 mt), allowing for capex and decline costs my first round rough calc is 70-100 cents per share.
If strike (200 m) can be extended, width (15m on average downhole)and grade ~4 % can be extended, there is plenty of upside-for anyone of these categories.
My rough initial calcs suggest a value of 75-100 cents per share undiscounted, post reasonable capex.
Anything that adds to the value as per grade/width/strike simply adds to the value IMO.
Cheers, TAS
Must admit I am a bit surprised this one has not run a bit...
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