All good mate, honestly I am trying to find the discussion and thread but a few people who understood the sector and commodity prices used conservative figures to value the commercial value of each level of resource upgrade.
Obviously it would be silly to assume that off those estimates the price would shoot directly to those valuations, but it does speak to the MC and reasonable value of the company. As has been mentioned previously, the amount of resource that is upgraded becomes a bankable asset, and therefore affects the company value.
Does anyone have the thread I am referencing?
Ann: Trading Halt, page-90
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