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pete222

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10/02/19

12:59

Post #: 37389746
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Originally posted by fmx_rider: ↑

Hi Gator,

Not sure if mid 2019 was a typo in your post?

Hopefully the trial mining permits and the repeatable assay methodology will be sorted by mid 2019.

However the December Investor presentation shows the next round of drill is planned for the second half of 2019. In my opinion they will not report a resource before further drilling is completed (wider drill grid coverage needed). So Q1 or Q2 2020 for a JORC Resource is my expectation. Their timeline showed about 6 months of drilling, so that suggests a really solid program (lots of metres/holes/area covered), which bodes well for the size of a future JORC.

The December presentation also gave a timeline for both a small scale pilot plant (test concept at a small scale) and a pilot plant, taking to around mid 2020.

Therefore I don’t believe your whole list is achievable by mid 2019, and therefore disagree with a $750 MC valuation in that time range. No nit picking, just information straight from the company.

Confirmation of assay method and high grade assays in existing holes and trial mining permits should see a $120-180M MC this year, in my opinion ($0.32-0.48 SP).

2020 MC is anyone’s guess, they need to successfully meet 2019 objectives first.

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I tend to agree . The logistics don`t happen overnight . Mid 2020 meeting targets sounds good to me . Party in Rio festival 2021 could be big.

BBX Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
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Share price target, page-8

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