Madtrader,
Tha company has faced dire situations in the past during wall slipages and this was the result of being depedend on a single source of ore. Developing underground access & Central Pit will surely derisk the company. If you & I owned 100% of it we would do the same.
Nothing left to reverse?? Please read the reserve statement. 100 million tons of IO left, 30 year + mine life. So if they were to revalue the mine deposit on a DCF basis they would add 200-300 million in mine properties.
Undervalued?, page-26
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