Remember my $1.80/sh target implies a fully diluted value of US$200m... which is covered by just one year of gross profits from mining a modest 500ktpa from Rupice. 500kt is worth US$200m-250m... and that is gross profits not in ground metal value.
Sprott, as of BR-3-18, calculated 1.5Mt of high grade ore... this easily covers mine CapEx and 10x the current EV of $ADT.
Both Sprott and I *exclude* barite from our calculations, which should easily pay for OpEx (1t+ underground or 4t open pit assuming 3:1 strip).
If $ADT defines just 4-5Mt of ore at Rupice, this is good for 8-10 year mine life and critical mass for a takeover.
I am projecting 8Mt of ore at Rupice, alone.
Ann: Thick High-Grade Intercept Extends Rupice to the North, page-161
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