Here is an example of what should be banned:
To be conservative, I will assume an average width of just 50m (ranges 0-200m), a depth of just 100m (we have this confirmed already) and a strike of 1km (already confirmed)
Summary: 1000m (strike) x 50m (width) x 100m (depth) = 5,000,000 m3…x 3.2 (sg) = 16,000,000 tonnes
Discounting the high grade results from the transported materials, and paying greater attention to the average grade of all test samples,we come up with the following potential parameters…
Cu @ .5% (recoverable) x 16m tonnes = 80,000t Cu = $800m
Ni @ .2% (recoverable) x 16m tonnes = 32,000t Ni = $1,088m
PGM's 4.5g/t (recoverable) = 2,314,800 oz (assume av $800/oz) = $1,855m
Total in-situ value (recoverable) = $3,743m…or… $3.74 billion
An applied market value of 10%of inground (assuming an economic resource) gives us a market cap of $374m…or about $5.67 per share.
Add cash, and other assets and you get about $6.00 per share.
Now before getting too excited, remember this will not happen overnight, but if drilling continues to confirm the nature of this find, such prices are more than possible.
Remember also, the above numbers assume a depth of just 100m…which has already been confirmed…double this to 200m for similar grade and you get $12 per share. Importantly, mineralisation to 1km is not uncommon in this part of the woods, although I would be happy with just 500m.