One other thing I noticed in the Argonaut research note was that...

One other thing I noticed in the Argonaut research note was that they valued the exploration potential and additional resources at $30M. Fair enough from their point, as it is by definition speculative, but to call that conservative would be an understatement, considering that only 40% of the carbonatite plug at Panda Hill have been drill tested. If and when these additional resources materialise in a then operating mine, they will be worth A LOT more.