RE: Drilling Update on Wednesday night24 Jan 2021 22:16
I cant see why the next set of NCM results wont bring us back to at least the 33p Berenberg valuation. They deemed 33p (66p unrisked) on drilling to date at the last set of results on Havieron. Each set of results NCM release fleshing out the ore body and work ongoing with the box cut and decline keeps chipping away at that 50% risk rating and should slowly push the SP closer to the unrisked valuation over time.
GH said it himself, huge overreaction from the SWAG results. Anyone researched up on GGP will know current SP is below fair value based on a conservative broker note.
Havieron and Scallyway, PRE, etc. need to be viewed with two different mind sets. Havieron is a proven deposit, now being fleshed out in to a Tier 1 mine at pace and news surrounding it should be viewed with the weighting it deserves. Scallyway, PRE etc. are early stage exploration and should be viewed as such.
When SWAG initial drills came up with disappointing numbers, Havieron didn't all of a sudden stop being developed it continues apace with not an eyelid batted.
Sell at 28p if you like, but don't come back whinging and like ArnoldPalmer in 12-24 months because you sold out too early.