RE: Dahlman Rose: $28.31 price target for ITHAny potential date for that $28.31 price?
I do not doubt that ITH had the goods to be valued at $28.31, given the current $1500 POG. As we have discussed before, the PEA last year tagged an IRR of 55% with POG at $1500. That is why I was hoping they would release some sort of revised PEA by May or June, given their latest drilling data and improved knowledge of the property. I would bet the IRR might even be higher.
I am still thinking that a takeover does not occur until after the feasibility study is released this fall. If they release this in September, we could have a serious bidder as early as November.
If the POG maintains or continues to increase from these levels, and further drill results are very positive, the next 6 months should be very interesting for ITH.