Based on the current share price, Antipa has a market capitalisation of $114 million. The JORC resource indicates 2.3 Moz of gold across all tenements. That equates to the undeveloped resource being worth $50/oz at the moment. However, in terms of non JORC compliance ounces of gold discovered so far by Antipa (100% owned and JV ground), I think the number is in the order of roughly 4 million ounces of gold discovered.
Therefore, Antipa Minerals resources are only valued at $28.50 per ounce undeveloped, eg. $114/$4=$28.5/oz This is a big difference between Havieron valuations and the Antipa resource package. AZY share price is amazingly undervalued.
Further JORC resource work is urgently needed over the summer period!!!!!
Ann: More Significant High-Grade Au-Cu Intersections at Calibre, page-64
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