Wardell Armstrong are due to hand over their technical overview of the Yellowstone project in Kazakhstan in the week beginning 4th July.
I'd say Ross and Co are sifting through the detail as we speak. The talk so far has been a potential jorc of Sandfire proportions, but the early numbers from the Russians suggest something more modest. Ross has noted his 'Extreme Confidence' going forward for Red October in general. We will find out shortly why he was so keen to get hold of this particular ore-body.
In two weeks the market will decide just what it's worth. MC is tiny, and ROS could run hard, both ways.
If we get a number around the 800m tonnes mark at a decent grade - 1-2% copper, What would be fair market value?
DJ
ROS Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
