RE:RE:Wow! Punter... I can understand that you are sceptical and that the lack of movement after Q1 results makes you feel vindicated.
I see a great open pit with very high grade in a risky country. Offset against that risk is a company that can generate $100 million worth of free cash flow in 2023 With its existing mine and resources. Potential upside is finding additional resources that it can mine nearby and also the exploration and development in Senegal and Burkina Faso… Two more risky locations. But that hundred million dollars of free cash flow puts the stock at 60-85 cents With conservative multiples. I'll take that risk… Because if they expand the resources or find another mine then we are looking at a $2.50 stock… And I see that is good odds for a 10 bagger to be had here within the next 3 to 5 years.
That would mean a compounded return of 55% per annum… So here's my potential return…
1) lose it all
2) double to triple by the end of 2023
3) 10 bagger by mid 2027.
I think the probability of a double or triple by the end of 2023 it's about 70%. I think the loss of it all or attend bagger is 15% for each… Yep I'll take that bet