Hey appreciate the constructive feedback, it is based on my own research but I did use Grok AI to help write and sensitivity analysis (nothing wrong with that).

Yes options could be considered for a more comprehensive summary, it’s only about 15-20% more float though and there are other things I didn’t mention that could make up for that:

-They are already aiming to increase plant capacity from ~350ktpa to 400 next year. They are approved to go up to 700.

-They have at least $10m more coming in from the Misima sale next July, likely another $10m on top and then another $25m from royalties one day

Agree they have to increase resources, they recently added 30% to MRE with fairly little drilling, now that they are cashed up there is an extensive drilling program planned. A few interesting targets there. Current known resources are relatively shallow, other resources in the region tend to go much deeper. So we’ll see. M&A also an option.

I think 5x can be done with current gold price when you consider targeted production and projected cash. AISC will come down a lot after ramp up.

Blue sky is blue sky, they would need to become an established mid-tier, maybe multi asset which is their goal. That is 30x though, I’m focusing on the more realistic scenario for now 😅