Originally Posted by
Daytr
Just posted this on HC re Alkane (ALK). I have a small stake, thinking of adding to it.
Lets have a very simplistic look at the market valuation of ALK versus its asset backing.
Market Cap currently circa $130M
Cash as at 30 Sep $72M
No debt.
Tomingley 60k toz pa gold project about to be commissioned.
2nd resource at Caloma could extend mine life & increase production.
Then the big prize the Dubbo Zirconia Project.
At $130M market cap the market is placing around $80M valuation on Tomingley & no value on the rare earths or visa versa.
ALK imo is now one of the most under valued plays around.