Some upside potential in we use the industry peer value of jorc oz of $116 (Fat Prophets),
Redcliff has 198,000 which implies a market cap of 23 million.
So current valuation is 50% below peer and attributes no value to the potentially larger resource at Kelly or the Manus potential.
Lets hope they can get an onsite mill operation going at 727 or RC pronto, as a serious rerating looms.
Oscar
