Not straight away. They would have to confirm it with further drilling. however a hit like that should take the company immediately to $200-300m, so we are talking $4-6/sh, then further drilling confirmation would take the price higher. It would take months to get to the high valuations, but the price would soar on each confirmation.
If the first hole hit, and it goes to $6, but the second and third miss, the price would come way back to $1 or so, but still 5 times today's price!!
It's the confirmation drilling that can make something a 50-100 bagger. But an initial good hit would still be a 20-30 bagger by itself.
BOA Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
