I don't mean there's no upside from $350m. There certainly is, going to production, otherwise there wouldn't have been any point to the POSCO transaction.
The point was our MC will not hit NPV (I've been trading spec explorers for 15 years myself and never seen a single one trading even close to NPV) or sale value as any investor is not going to buy to an MC equal to a sale value because they'd make nothing.
I was also aware the 1Mt was lowballing - we know the depth was only 300m and you've given some estimates in your much more detailed post the few days earlier. It was simply a reason to look conservatively at the numbers rather than thinking we get a hit and we're all millionaires.
Again, happy to be wrong as I'll be raking it in if I am, but I'm personally one that prefers to be realistic.
GLN Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
