HRR - Updated NPV calculation, page-35

how do you figure that?

at the end of current quarter heron is forecast to have net cash & equivalents of ~ $47m, whereas it’s market cap sits at $180m, so NPV $130+m.

seems a generous valuation to me, lots of room to correct

also worth noting the previous capital raise was conducted at equivalent of 70c. This is the best the company could achieve despite searching far and wide for cornerstone investment

the sp has barely left the cr price since the raise was completed, so it’s probably more accurate to say it was the global zinc and metals industry that priced heron after doing due diligence and counting the numbers

imo this is actually a good exit point. price seems set to soften over the next several months. i’ll pop in a roundabout then and we can spark up our conversation and do a post morterm.