Third times a charm This is a strong speculative buy for mine on...

Third times a charm

This is a strong speculative buy for mine on the fundamentals.

Tonnage will be low, but grades will be very high with low contaminants, a significantly underrated boon for them going forward. At current market cap it will look a steal once assays are out IMO.

Sound management, well above some of their peers.

Tiny market cap (important as the overall tonnage will be low, but will be more than compensated for by the quality of kaolin)

Won’t need to raise anymore cash until after JORC is released in September.

Without sounding too pie in the sky, the obvious thing for mine is the market cap and the fact they won’t raise more cash until after the JORC is released IMO. They aren’t going to burn $4 million in a month, management haven’t put a foot wrong to date regarding capital expenditure. The market cap is sitting under a measly $30 million currently, it could easily be valued at $ 60 million without too much fanfare after the JORC is out in September and that’s being base case conservative.