Redeye - Those who wait for something good…
The most important event during the quarter, from Botnia Exploration, was the announcement from the board that the company will proceed with the necessary feasibility studies for Fäbodtjärn with the goal of develop and mine the mineralization. We have adjusted our NAV valuation and updated our gold price and USD/SEK exchange rate forecasts. We have also adjusted our costs and CAPEX assumptions somewhat in our valuation of Fäbodtjärn. Our Base-case fair value estimate is adjusted downwards slightly, but we still see a potential of almost 3x todays share price in our Base-case. A somewhat