Peer group comparison also with Boss (ASX: BOE) valued at $9.85M, has a Burkina Faso JV with Gryphon with a 80/20 split and a much smaller exploration spend than the AQD JV with around a US$7M spend by JV major and a MASSIVE drill program underway. Then you have the massive JV program in Peru and an upcoming nickel drill program in WA and all capitalised at $6.3M.
So compared with Boss it is only valued at about a quarter of Boss valuation on a project by project comparison.
AQD Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
