TO is low probability, but I wouldn’t rule it out 100%. If Mt Morgan’s is churning out 200k oz around $1000-1050 AISC and delivering 50%+ EBITA margin, then yes they will be in a strong position quite quickly.
They have a fantastic exploration and development team, why not put them to full use by acquiring an emerging development project with exploration upside? All once Mt Morgans is humming of course.
Still plenty of exploration to be done at Mt Morgans as well.
I like it. These guys are going the way of NST, SMB, EVN. $600mill is not a crazy valuation.
DCN Price at posting:
$3.06 Sentiment: Buy Disclosure: Held
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