I don't think there is smoke and mirrors here wrt to definitely having a much higher NPV than stated. The project is ordinary with development risks, not the first time a company has tried to restart. The reality is imo management were desperate for capital, the funds got a good price and must have taken a more neutral view of risks as well as targeting higher metal prices and mine life.
I don't think much has changed, it's fully valued and not worth touching.
HRR Price at posting:
7.5¢ Sentiment: None Disclosure: Not Held