This company is very tightly held, it will only take a little interest to push the price higher. Managment has been laying a strong foundation for future production over the last 12 months. Rothsay is ridiculously underexplored and seems to keep on giving.
The real excitement could come over the next 6 months as exploration results flow in and the resource is consistently upgraded ahead of the DFS and financing H1 next year. The beauty of Rothsay is that it's so compact and high grade. So far we are looking at three lodes within 50m of each other and an existing decline, with more to come. That keeps mining costs down and cash margins high. Any debt taken on for construction is likely to be repaid quickly.
A reminder that the last MRE upgrade (+16%, 32k oz, +28% indicated) lead to an extra 100k oz in the PFS mine plan, from scoping. AISC in PFS is $1020, that will most likely go lower now with the additional shallow production zones of Woodley's East & the Northen extensions. Not to mention this new middle load if it shapes up. All cream.
