Great deal... 3.5 million cash, warrants @ 0.75 cents. Sprott's on board.
PEA is done @ Nash Creek.
With the recent induced polarization survey done 1 km east of the Nash creek project, They have found significant target area that spans approximately 1900m by 400m and appears associated with a synclinal repetition of the Nash Creek Deposit. The footprint of this target area compares favorably to the IP signature associated with the Nash Creek Deposit.
It looks huge to me and They will be drilling it this summer, It could have the potential to beef the PEA up big time. They could double there Nash creek deposit, They have lots of drilling to do.
The maiden 2018 PEA outlines a 10-year, 3,900 tpd open-pit mining operation with a Dense Media Separation plant and 1,950 tpd conventional flotation process facility located at the Nash Creek Project (the “Project”). The PEA mine plan generates a strong economic return with a pre-tax internal rate of return of 34.1% (25.2% post-tax) and a pre-tax Net Present Value at an 8% discount rate of C$230 million (C$128 million post-tax) based on pre-production capital costs of C$168 million and a zinc price of US$1.25/lb (See News Release dated May 15, 2018).
So undervalued .... This will be bought out in future.