EXU looks like a good case study.
Happy to be corrected
Mineral Reserve is 675k oz @ 1.79g/t
Ore Reserve is 485k oz @ 2.09g/t
Initial mine plan is 534k oz @2.07g/t
EXU is a smaller resource than CAI
$130M capex for a plant AISC about $1k oz
Base case gold price is also very conservative
EXU has a far better share structure.
They just got taken out for $80m, which makes this currently look undervalued to me.
Ann: Calidus Grows Resource by 75% to 1.25 Moz, page-28
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