"We have completed a valuation for Hexagon, with this resulting in a base case risked Company valuation of A$156 million, or A$0.37/share, diluted for a conceptual funding model for McIntosh. We would expect this to increase with derisking through positive results from ongoing work (including resource/reserve upgrades) leading to the completion of the FS - our unrisked valuation is A$1.38/share."
Ann: IIR Initiates Research on Hexagon Resources, page-3
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