Good research by Sprott, but conservative, because it may be undervaluing Morila when the mine is producing +150k ozpa.
If you look at current ASX gold companies producing 150koz, then all of them are at or above a market cap of $800 million. So the Sprott estimate of 50c might be under by at least a half.
At production of around 150koz, an estimate of the share price should be approximately near $1.15 according to my (very rough) calculations.
Gw
FFX Price at posting:
25.3¢ Sentiment: Buy Disclosure: Held
