Alex has managed to take off the key risk with Abra which was the financing. There should be little risk with building the plant (G1A is just building a simple flotation plant) and the mining is not complex.
Once the Toho deal is signed off the real risk is the lead price, but with G1A looking to be one of the lowest cost producers I can live with this risk. The upside in a tightening lead market looks very, very attractive. When you start to do NPV modelling with a $1.20 lead price then things get crazy.
Lead is boring, but when the economics are as attractive as Abra I am happy to live with boring.
5 Bagger Thread. Fundamentals and Opinions, page-215
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