I'm in two minds whether T1 or T2 and how much more drilling will be required to attract a sizeable partner, it'll come down to what they uncover over the next 6-9 months. Sale or JV is 100% the avenue the company are seeking now since Moorhead came on board. I've been watching this story for over 5yrs and only bought in after the most recent high grade bornite zone discovery which I viewed as a game changer for the project as a whole. I'm not going to be a journey man here and I don't think the chairman is interested either, despite building such operations for NCM and most recently as CEO of Merdeka where he brought Tujuh Bukit online.
We can all dream of XAM uncovering a Hugo, I wouldn't discount it, in which instance they would attract a T1. I'm happy with the base case and hopefully >100Mt @ 1.5% CuEq which will hopefully attract a sizeable T2 player.
$200-500m eventual sale is not out of the question in a raging copper bull market.
XAM Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)