Agree. The benchmark has been set at Hombre Muerto at 4MT for $380 mill (Aud). Not hard to work out if this drill hole is deep and comes up with high grade, there is potential to get up around that number.
On top of that, there may be further land holdings to come on at Candelas, and all the Western tenements to be factored in. Total potential JORC size at HM for GLN...? Lets just call that $0 extra for now.
Even discounting to 50%, that is 2MT and based on the Posco valuation that is $190 mill.
56 mill MC: 50 cents
190 mill MC: $1.70
Obviously a bit of dilution to come on top of that but there is significant upside from here & allowing plenty of room for cream on top.
Not saying you were implying anything with that last line, but 250,000t Jorc on the cusp of producer status is a tad different to just a JORC of 250kt.
General Discussion Banter GLN, page-1616
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