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whytee

17,070 Posts.

2416

05/10/17

16:01

Post #: 27688704
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Originally posted by procrastinato ↑

I'm not too worried. Hysteria often follows hope, just as reality follows dreams. The question for holders is whether to sit and wait it out, or average down in the weakness. Adding more capital now means increasing exposure and risk, but with the potential to get back to green earlier.

Is the Mt Thirsty JV worth 34M? That's little more than $1 per ton current resource. The contained metal, (inc the Mn), at the lowest SS recovery rates, is worth today about $100 p/t. The SS puts the opex at $43 p/t. Capex raises that to about $50 p/t.

So the current market valuation is $1 p/t in the ground for a potential $50 revenue p/t, confirmed by a low-ball conservative SS. I have a feeling it may rerate.

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I suspect there are a lot of disappointed traders who were hoping for a really good report and who dumped the stock as it started going down. It will take a while for the TA clowns to disappear and for the stock to find its true market value. Today is probably a good day to buy while they exit at any price.

CNJ Price at posting: 3.2¢ Sentiment: None Disclosure: Not Held
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