Andrew has previously said that the Windsor project at Earaheedy...

Andrew has previously said that the Windsor project at Earaheedy could be a company maker in its own right and as work commences early in the New Year, I thought it would be a good idea to run a separate thread for this one.

What I am about to say is all speculation and may of course never happen, but I have been reading up on the Rumble Resources discovery at Earaheedy to work out what the potential could be if we were to make a similar discovery.

Rumble Resources had a market cap of about $52million immediately prior to announcing their discovery at Earaheedy on 19 April 2021.

After announcing the discovery, the share price ran from $0.10 to $0.79 increasing market cap from about $52 million to $415 million, valuing that particular hole at about $363 million. However, it's important to point out that Rumble only owned 75% and so the implied value of the hole was actually closer to $484 million. (GBR has 426 million shares on issue and a strike like that would add $1.13 to the share price based on 100% ownership)

Seven days after the announcement the company was able to raise $40 million at $0.50 (after trading at just $0.10 the week before) setting them up with a decent exploration budget as well. This is why I prefer raising after a discovery and not before.

The potential makes my mind boggle but food for thought and makes the current price look very cheap.

It's purely speculative and you should do your own research. You can read the announcements from 2021 here:

Earaheedy Discovery 19 April 2021: 44vn4s8g23lg35.pdf (asx.com.au)

$40 million fund raising 28 April 2021: 44vxz1c0v08jv2.pdf (asx.com.au)