thats just above the bollinger technical positioning. bollinger...

thats just above the bollinger technical positioning. bollinger positive is at 38c

those technical positions shift as the curve shifts based on buying support - nothing to do with newsflow

to put it in perspective DRM is trading 3.5x EV/gross mine margin vs sbm on 8x, sar on 10.2x.

its on 3.1x if you take mgts 100koz numbers at face value

Its a single mine operator going to 100koz so it wont get their premiums - but if market feels confidence in the turnaround and wnats to position for that outcome there's no reason if cant get to say 4 -5x with no further newsflow barring quarterlies

50c would put it on 4.5x at its current 75koz run rate though need to allow for cash position to change with exploration cost

i suspect its all about confidence in mgt being on the up and up

my own view - for whatever it is worth - is that if EMR is worth an implied $180M market cap still having to build its $90m mine to produce 106kozpa with all the teething risks associated and with the crapshoot cambodian sovereign risk factor - DRM at $151m EV appears significantly undervalued