I have emailed ORN to confirm my basic assumption that the weakening of the ZAR against the USD is massively accretive to the Prieska NPV. Assuming I am right then clearly ORN is massively undervalued!
At a market cap of say $100M, ORN is trading at close to just to 5% of the combined project NPV of Okeip and Prieska! Ridiculous given the advanced state of both projects being essentially fully permitted, shovel ready and about to drop fully peer reviewed DFS's!
Absolutely worst case should see ORN at 30% of NPV - or a market cap of close to $500M! Seems like a buying opportunity to me with only the jurisdictional risk of being South Africa based weighing it down and keeping it off the international radar! Time will tell but I feel a top-up is in order
Add to My Watchlist
What is My Watchlist?
