ppl obsessing over *how big* are really missing the point. It's like you all want to talk about how many hours you work per week when the focus should instead be on how much you make per hour. The average ore here is 10x the grade of your average marginal mine... the ore here is *extremely rich*... Not much tonnage is required for this deposit to generate *huge* cash flows.
I like to use NexGen Energy and their Arrow uranium deposit as an example because ppl still struggle to grasp this very important point when they look at Arrow. Just 5.4Mt resource and preliminary mine plan scopes under 1500tpd. The ore is so rich here, that even a *small* 1500tpd mine runs the risk of *flooding* the uranium market with roughly 20% of global annual mined supply. Just 5.4Mt and after-tax NPV over US$2.6B.
Yesterday we also saw Sandstorm Gold's Hod Maden PFS.... 10Mt and after-tax NPV over US$1B.
Rupice likely already 4Mt and at better AuEq grades than Hod Maden... ADT fully diluted enterprise value barely over US$50m.... Do you not see attractive R/R here?
ADT Price at posting:
58.0¢ Sentiment: Buy Disclosure: Held
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