Ann: Further Northern Extension to High Grade Mineralisation, page-49

Hi John,
 
I agree that poor understanding of both the jurisdiction and for polymetallic deposits are contributing to the undervaluation.  I also think that mining speculators have been conditioned to favor bulk tonnage (or size) when it comes to base metals projects.  In early discussions, most ppl I've talked to were turned off by the limited tonnage potential of Rupice.  This point was repeated to me over and over again.  I think the problem here is that ppl appreciate the high grades but don't take the extra step of translating what the grades could mean in terms of potential revenues.  Surely, corporate development teams at mining companies are running their models and thinking of Rupice not just in terms of tonnage and grade, but also in terms of dollar signs.  

To be clear, there is lots of discovery potential here but the rock bottom valuation is worth underscoring, especially in juxtaposition with similarly 'small' but very rich deposits.  This is why I've focused most of my efforts on revenue models and comparisons to Sandstorm's Hod Maden, NexGen's Arrow or Dalradian's Curraghinalt.  When you look at Rupice through this lens, it's clear that the project is no small deal.

In re Curraghinalt, mining focused PE firms like Orion, Waterton and RCF have been picking off projects on the cheap during these cycle lows.  IMO Dalradian was also taken out cheap due to the local opposition you noted. 

Also, If you don't mind my asking, what is your handle on Twitter?