This presentation (1 June 21) is great and very well worth watching - 30 minutes. The lady presenting is sort of an expert investing in junior mining companies. It has some great points for people investing in junior gold companies. Of interest is in order to have a good project that will gain traction with investors (ie a high SP) you need for a gold mine a minimum LOM of 10 years and at least 100,000oz pa production (there are important factors including capital, ASIC, etc).
So IMO the first FS result with a LOM of 7( is this correct or was it 6 years) years does not make a strong case hence one reason for the SP selloff as it had a high SP with equally high expectations (I also suspect the sell off was due to a higher than expected ASIC). BGL is well over the 100,000 Oz pa production.
If BGL's next FS study gets to over 10 year LOM than we may see a significant SP re-rate (and more so if ASIC comes down).
IMO they will definitely achieve a LOM well in excess of 10 years but it may not be when the next FS is released (it may be a subsequent one).
Charts!, page-13
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