Tucano Gold Mine

Correct me if I’m wrong, but if BDR just owned the rights to this Gold as an exploration company with Zero revenues, it would be valued at a portion of the Gold Reserves even if revenues were 6 years away.

Seems strange that the Market values unproven potential more than an existing Mine with capital assets and proven production with revenues?

Sure, profitability is low. But that can be fixed and Gold is sure to eventually recover in pricing.

BDR looks like both a turnaround candidate and takeover target at the current A$73M valuation. How much is Tucano alone worth? Probably at least 10 times that.