Worth being aware21 May 2026 12:58
The market can comfortably look at the scoping study's US$1.64 billion NPV (at a 10% discount rate). This is the current 10% NPV. I mean we are trading
As the Q3 2026 spud date approaches, the market will begin pricing in a higher "Chance of Success." If the market prices in just a 2-3% probability of hitting those multi-billion-dollar unrisked targets, mathematical re-rating will naturally push the pre-drill market cap well over £100m.
Just to reiterate this is a re entry not a maiden drill. I think majority of the market are not aware of that fact.