RE:RE:Nice report on FPXA bit more derisking and we should have 20%, or 4X $.80 = $3.20 / share
PFS should get us to 30% NAV, or 6X $.80 = $4.80 / share
Double that if Van proves up
Double it again for the iron ore byproduct, if they go the HBI route
Current potential upside here is $20 / share, excluding cobalt credits, nickel price in excess of $7.75 used in the PEA, and added potential that the entire Decar land package could yield additional, world class ore bodies.
From a geological perspective, mineralization is dependent on water percolation. Water percolates in fractured zones. Fracturing is rock weakness that erodes when exposed at surface. The surface expression of the ore bodies at Decar a well correlated with surface drainage. Look at the map with a view of these drainage systems to glimpse the ultimate future potential of the land holding.