Time to breakout, page-1620

Another day another buy Probably jumped the gun early but neither here nor there if it's 55 or 52 when you're buying to sit tight.

Okay volume again, no doubt some of it's the churn of accumulators but good to see anyway.

Not a bad thing having a few crumbs trying to talk the price down and cast seeds of doubt either imo. Understandable to be under people's skin with a like for like comparison next door at 40% of the price.

Obviously at some stage we need the SP to mature to that of a genuine pre-production mine but the longer it stays at that of a wanna-be explorer the more we can all pick up. Sorry to any short termers, not my problem!

The only important price date in my calendar is a BOA which I hope to be in June '19. We really want to wait for the DFS before issuing again and I expect a valuation of between 30 - 50% NPV for their investment. I say this because in most cases companies aren't likely to get full value without this definitive information available. I'm sure there are exceptions!

Once we have Nth zone assays available we have enough information to extrapolate LOM and what phase 1 NPV might be... to determine an end SOI based on a few debt / equity scenarios and therefore an accurate in production SP target.

While we're waiting I might run half a dozen relevant BOA CR val / NPV's to determine a more accurate dilution target. Anyone who wants to add to this would be very welcome.