As was approved at the recent AGM, Bardoc has consolidated its shares on issue 6:1. We update our figures to factor this in. No change to mining assumptions used as a basis for valuation. In our view, the Bardoc Gold Project retains its inherent value despite the uncertain path forward. We retain our Speculative Buy recommendation with an updated valuation of $0.55 per share. Prior to 6:1 consolidation, $0.09 per share.
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