What comes next? What we need to happen now is for them to find more good grades along the 7km strike zone back to the Eagles Nest tenement. This leaves the way open for a blue sky bonanza which will send the SP way past where we are now.
For now, good as it is, the potential is just for a few veins poking up into Wattle Dam. If, as seems logical, Wattle Dam is just another gold source along the strike zone, then all bets are off.
My non expert valuation is now a guaranteed $1.50 per share based on the near certainty that they will extract that much gold from Wattle Dam. Upside is $2+. But if you factor in the potential size of the mine, using even the most basic logical assessment of the RMS tenements, then on a risk/reward basis I think they are worth over $3 now.
Fortunately I'm averaged in at 13c. Thanks Joe.
what comes after super high grades, page-3
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