This will turn into a mineable resource but I doubt PEX will ever get to mine it. One of the bigger players will buy the tenement for cash and/or shares and/or a royalty combination. Given SBM has a significant stake they clearly have inside running and management + Pitt and friends should be able to extra a solid premium. Nothing less than 1.30 per share based on what is unfolding and higher if results continue to flow as or above expectations. Still a lot of upside from here. You only need to look at the CSA mines to know what a valuable long term earner Cobar deposits are.
Ann: Southern Nights Surges with Multiple High-Grade Hits, page-35
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