The value of every 100,000oz with this grade, could be valued at $150 per ounce in the ground or $15m. Given where it is located and without the need to build a plant gives a reasonable estimate. Operating mines like NST get nearly twice that valuation from memory.
The current market cap is $10m and the resource target is 4.5 x higher. If we allow for some minor dilution (57m on issue now), i can see a stock price of 70 - 80c this year. This assumes 80m on issue and 450k ounces x $150.
If you cut the gold price in ground value down to $100, you still get 50c.
Myree is a new discovery outside the 450k 0z estimate and that is already 70,000oz x 3.5g/t and it remains open along strike and depth. All in all, it is very cheap on the numbers. There is probably a magic gold price number and then the market will come for these emerging players and M&A will crank up imo.dyor.
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63.0¢ |
Change
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Mkt cap ! $161.9M |
Open | High | Low | Value | Volume |
61.5¢ | 63.5¢ | 60.5¢ | $3.093M | 4.980M |
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No. | Vol. | Price($) |
---|---|---|
3 | 41223 | 62.0¢ |
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Price($) | Vol. | No. |
---|---|---|
63.0¢ | 22474 | 1 |
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No. | Vol. | Price($) |
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1 | 37469 | 0.385 |
1 | 14849 | 0.380 |
2 | 58500 | 0.375 |
3 | 107783 | 0.370 |
4 | 186557 | 0.365 |
Price($) | Vol. | No. |
---|---|---|
0.390 | 108730 | 2 |
0.395 | 178353 | 4 |
0.400 | 608864 | 10 |
0.410 | 210000 | 2 |
0.415 | 20000 | 1 |
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