if I had a look at another African country like Namibia and the active uranium-players in this country, the valuation is a miracle to me.
I mean companies like EXT, PDN, EXT XT.V, FSY.TO are more or less mono resource players with cash costs likely to be significantly above U spot price.
WME is valued at about 76mln A$ with absolute lowest U-grades.
FSY.TO same with extremely low grades and a valuation at 460m A$.
EXT has better grades but still below PDN grades and PDN has operating cost > 50$/lb. The valuation is a stunning 2blnA$. IMO the size of the resource is no justification for this high valuation.
PDN is operating but at a loss and at high costs compared to the recent U-prices. 2.8bln is pretty high valuation for this operational performance.
XT.V has a handful of nothing but a valuation of 38mA$ coming down from >1blnA$
On the other side I have a look at our beauty that is valued at 23mlnA$ with a reasonable path to production a much better sales/cost structure and a genius management. And last but not least has Malawi recently proved it's committment to mining when the Kayelekera mine is kicking off.
GBE Price at posting:
33.0¢ Sentiment: LT Buy Disclosure: Held
