Grossly undervalued.Compare TAM to any of it's so-called peer group. Name another that controls a 110 sq mile concession that's chock full (9 B lbs) of known zinc and lead, with some deposits of amazingly high grade ore.
They have 20,000 cores (courtesy of Cominco) that are worth more than the friggin market cap of the company. Have all the needed infrastructure that is so important for any metal project, and particularly so in the North. They have access to the northern-most rail line in Canada - the railroad right of way is only a few hundred meters from R190. The highway runs next to the RR. Low cost onsite power is from Talston Dam (which was built to supply Pine Point and is in the process of more than doubling output).
It's as environmentally benign as a mining project can get. There are no tailings pond or waste piles as all gangue is sent back underground as cemented back fill to allow TAM to mine every last bit of ore. They produce an extremely clean concentrate - no deleterious by products, so should be in great demand by smelters.
$35MM mc for this company is an absurd joke. Will throw off $150MM+ in cf from R190 alone, or $2-$3 share. And this isn't 3-5 years from now, but will start next year.
Permits are coming - they have taken longer than anyone expected, but the out come is not in doubt as First Nations and Hay River are all in favor of bringing back high paying jobs. They saw first hand what happens when a mill is in town - lots of jobs, money and taxes. They also know what happens when a mill leaves - no jobs and no tax base.
And with outstanding intercepts like 105' of 30+% and 148' of 14%, it doesn't take a genius to figure out that TAM will be profitably mining Pine Point for many years.
Will TAM again transform PP into the most profitable base metal mine in Canada? I think they will. And soon.