The positive reality7 Feb 2019 09:02
Posted By Basicali earlier today 12.08am
Today 00:08
News @23:43
I think in terms of what we can consider “known” at this point,, or at least delineated to a reasonable degree,, is the worst case figures I initially posted: 400m depth, 160m radius, 2g/t grade,, still giving a market cap of circa £150M. Note: 160m radius maybe a stretch to claim as proven at this point but it seems reasonable.
The £500M calculation is more an extrapolation of this and is what we need to prove up in future drilling. Again, this is off reasonable grade and depth assumptions from what we do already know.
To me, the most relevant point here is that even a very conservative definition of the resource, based on factul results to date, gives a value nearly triple the current SP.