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I was expecting a positive MRE, which is what we got. During all the drilling over the last 5 years; every time GGP has announced "oh we found more gold down there" the share price reacted like it did to this MRE. The share price is clearly valued by market forces, however one wishes to define that, and not by the currently "unofficial" asset.
If you're interested you can view their valuation algorithms here:
https://github.com/SimplyWallSt
It's basically the same auto-generated stuff as every other similar website. I wouldn't read too much into any of it.
Unless someone provides the paperwork for it, trying to figure out whether it was a buy or a sell is just guesswork.
What we do definitely know is that the price is still currently up so even if it was a sell it didn't turn the tides. Surely that's the important thing to look at rather than the direction of individual trades.
Is $300/oz a reasonable estimate? I know the figure of around $100/oz has been thrown around this board over the last couple of years but obviously Telfer has a lot of infrastructure in place already - I just have no idea how to figure out how much that would affect the possible price per oz.
In my head - the logic of the drill locations follows what you would do in battleships.
If you fire at A1 and get a hit - you wouldn't then go for J10 because that would be lunacy. You know there is something at A1 so you fire at A2 or B1 to find out the direction of the ship - after that you continue to find the size. I figure the same applies here.
Ya'll need to chill your beans.