Hi Dag & Dratoz, went back a looked again at the media release dated 4th Nov. Myszkow deposit is a very large project for a small exploration company (capex approx. $0.5 b), Andrew Zemek has his work cut out to find Financial / Strategic partners, but the listing of Molybdenum on LME from Feb will increase interest and the price assumptions used to calculate the NPV is a third lower than the prices last week. There is even speculation that the price of Mo may go up four fold in the next four years, around the time the mine would open. That would make the project a lot more interesting.
The work completed so far is not reflected in either the SP or market cap, historic drilling is quoted to be worth $20m a lone. Inferred resource $20billion! Seven largest Mo mine in the world. A Rio, BHP, Xstrata, Glencore must find this a very interesting project. Especially is China controls a large proportion of the world's production.
This is without the nearology relating to BDR. Why is the SP down at 6.0 cents?
STZ Price at posting:
5.3¢ Sentiment: LT Buy Disclosure: Held
