RE: Josemaria project27 Jan 2022 18:35
I want Iceberg to be very right and Ted very wrong.. and my instinct is that Ted will be, at least, pretty wrong in the end and Iceberg, at least, pretty right in the end.... but right now the market is, hands down, saying Ted is very right and Iceberg very wrong, alas.
(Again, the Africa businesses are 3 to 4p of this s/p price imho.. so Bushranger valuation, with a potential big sale event but a few months away, remains still atrociously low, alas)
So , as CE says, CB clearly needs to do much more to wake the market up to the greatness of the asset he tells us he has in Bushranger.. I think, altogether, in due course, he can/will do that...but the Open Pit Project might well be plenty slower to get to his readily achievable copper target than he has expected for eg a fair few months ago, i'm now fairly confident.. and before Ascot was known about, that Open Pit Project was his sure thing here.. so I'm not surprised the market remains extremely cautious on Bushranger for now.. but hopefully that will change soon enough .. However, CB likely - imho - sitting on a bunch of assay results for whatever tactical reasons is certainly not going to help wake this s/p up meaningfully imho.
More generally, I'm fine with being patient here and I'm altogether confident we're on at least a decent winner with Bushranger.. and -hopefully- maybe a big winner.