I don't disagree that a billion tonnes is eventually possible for the combined Kangwane, Mbila and Marble projects, but you need to factor in our ownership interests in the different projects. My current tonnage for ZYL (approx 260mt) is based on the assumption that the York acquisition goes ahead, so it assumes, for example, we have around half of Kangwane Central and three quarters of Mbila.
If we grow our share to, say, 400mt, our value in an acquisition could be around $250m. If we are in production, then we're worth more still.
HWK Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
