The Redcloud report looks favourable for them but the faith from investors aint there maybe?
Our View –the property covers ~25km of Mt Roe basalts in the southern portion of the basin. Initial work has demonstrated significant potential, including a slightly different style of mineralization and finer gold component than we have seen in other parts of the basin. Management has taken its initial steps and plans to follow-up.
Valuation –current market cap puts it at a slight discount to other conglomerate peers; but does not account for its attractive zinc, lithium assets or A$4 million in cash
Conclusion –an interesting entry point, particularly based on the company’s initial results
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