The MRE already has 70% tonnage of what the market classifies as a tier 1 gold mine with high grade, what's your MC valuation when this does become a tier 1 gold mine with this high gold grade? Very conservative $800M......
But if does become 10Moz+ then it will be classified as a super tier 1 gold mine which is very rare especially with average gold grade of 1.5g/t so close to the surface, the MC will be much higher with the government more than likely allow PDI to drill into buffer zone 1 from Bankan Creek (logically you would think) confirming to the market buffer zone 2 isn't an issue and won't affect the ML process.
IMO the pps is currently 50% undervalue due to the buffer zone 2 "issue", MC of $400-450M is a very fair valuation of 4Moz with 1.5g/t gold grade.
What is your exit plan?, page-36
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